ProMetic signs deals with Shenzhen Hepalink Pharma to expand in Asia
Canada’s ProMetic Life Sciences (TSX: PLI) has signed two strategic agreements with China-based Shenzhen Hepalink Pharmaceutical. The commercial agreement relates to an R&D project based on ProMetic's proprietary protein technologies and includes $11 million in licensing fees and milestone payments to ProMetic, of which $2 million is payable upfront. In addition, ProMetic shall receive further funding for product development activities to be performed on behalf of Hepalink, expected to be initiated in the fourth quarter of 2012.
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