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1cBio & Lee’s Pharmaceutical have entered into a licensing agreement granting Lee’s Pharm exclusive rights to develop & commercialize OC-3, a preclinical PARP1 inhibitor, in China & certain countries in SE Asia
As per the deal, 1cBio will receive an upfront payment, development milestones & potential sales milestone payments totaling ~$27M, as well as royalties on future net sales
Lee’s Pharm will handle GLP safety studies & manufacturing activities to obtain regulatory approval in the licensed areas, with a drug supply manufacturing agreement also included; 1cBio will have access to data generated to support its US FDA IND filing
Ref: PRnewswire | Image: 1cBio & Lee’s Pharm | Press Release
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