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SUZHOU, China, July 14, 2021 /PRNewswire/ Kintor Pharmaceutical Limited (HKEX:9939) today announced that it has entered into a licensing agreement with Shanghai Fosun Pharmaceutical Development Ltd. ( Fosun Pharma Development ), on the commercialisation of proxalutamide for the treatment of COVID-19 indication in India and 28 African countries (the Collaboration Regions ). Kintor and Fosun Pharma Development will collaborate on the emergency use authorization applications, promotion, and sales of proxalutamide for the treatment of COVID-19 indication.
According to the licensing agreement, Fosun Pharma Development will be granted exclusive rights of registration and commercialisation of proxalutamide in the Collaboration Regions. Kintor Pharmaceutical will be eligible to receive upfront payment and milestone payments up to RMB560 million (upfront and development milestone payments up to RMB110 million and commercialisation milestone p