Resverlogix updates on deal with Hepalink

8 July 2015

Canadian clinical-stage biotech firm Resverlogix (TSX: RVX) says it has closed a license agreement and formally entered into a definitive stock purchase agreement with Shenzhen Hepalink Pharmaceutical.

The closing of the stock purchase transaction is subject to customary closing conditions for a transaction of this nature and approval of the Toronto Stock Exchange.

Under the license between Resverlogix and Hepalink (The Pharma Letter April 27), should the cardiovascular drug candidate RVX-208 reach certain annual sales milestones in China, Hong Kong, Taiwan and Macau (the Territories) ranging from 500 million renminbi ($61 million) to 10 billion renminbi, Resverlogix will be eligible to receive sales-based milestone payments from Hepalink, each ranging from $5 million to $90 million. In addition, Hepalink will pay Resverlogix a royalty in the amount of 6% of net sales of RVX-208 in the Territories, subject to certain adjustments. The license will expire on a region-by-region basis on the later of the 15th anniversary of the first commercial sale in such region or the expiry date of the last-to-expire of any licensed patent.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology