Yahong signs conditional exclusive licensing deal with Theramex
In short
Yahong Pharmaceutical said it signed a conditional exclusive licensing agreement with Theramex for its drug APL-1702, branded 希维她®/CEVIRA®. Theramex gains exclusive rights in European countries, Australia, New Zealand and Turkey, while Yahong retains rights in the rest of the world. The deal includes $15 million upfront, $11 million in near-term registration milestone payments, commercial milestones and tiered royalties, with total value exceeding $250 million.
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Yahong Pharmaceutical (688176.SH) announced on 7 October that it has signed a conditional exclusive licensing agreement with Theramex for APL-1702, marketed under the brand names 希维她®/CEVIRA®. Under the agreement, Theramex will hold exclusive rights in European countries as well as Australia, New Zealand and Turkey, while Yahong retains rights in all other regions. The Chinese company will receive $15 million in upfront payments, $11 million in near-term registration milestone payments, and additional commercial milestone payments plus tiered sales royalties. The total transaction value exceeds $250 million, according to the announcement. [ 2 , 3 ]
The deal was reported by Yicai, CLS and 36Kr, with 36Kr attributing the details to CLS. The announcement did not specify which European countries are covered or the conditions that make the agreement conditional. The financial terms and the scope of the license have not been independently confirmed by other sources. [ 1 , 2 , 3 ]
Why it matters
The agreement gives a Chinese pharmaceutical company a commercial partner for a drug outside its home market, covering Europe, Australia, New Zealand and Turkey. The disclosed payments, totalling more than $250 million, provide a reference point for similar out-licensing deals by Chinese drugmakers.
Key facts
- Yahong Pharmaceutical signed a conditional exclusive licensing agreement with Theramex for APL-1702. [ 1 , 2 , 3 ]
- Theramex will receive exclusive rights in European countries, Australia, New Zealand and Turkey. [ 2 , 3 ]
- Yahong retains rights in the rest of the world. [ 2 , 3 ]
- Yahong will receive $15 million upfront and $11 million in near-term registration milestone payments. [ 2 , 3 ]
- The deal also includes commercial milestone payments and tiered sales royalties, with total value exceeding $250 million. [ 2 , 3 ]
Confirmed by several sources
- Yahong Pharmaceutical signed a conditional exclusive licensing agreement with Theramex for APL-1702. [ 1 , 2 , 3 ]
- Theramex gains exclusive rights in European countries, Australia, New Zealand and Turkey, while Yahong retains the rest of the world. [ 2 , 3 ]
- Yahong will receive $15 million upfront, $11 million in near-term registration milestone payments, commercial milestone payments and tiered sales royalties, with the total deal value exceeding $250 million. [ 2 , 3 ]
Still unclear
- Which European countries are covered by the agreement. The announcement says “European countries” without naming them.
- The conditions that make the agreement conditional and the expected closing timeline. The agreement is described as conditional, but no conditions or closing date are given.
- Independent confirmation of the financial terms and the scope of the license. All figures and details come from the company’s announcement as reported by CLS; 36Kr repeats CLS, and Yicai carries only the headline.