Sino Biopharmaceutical (HKG:1177) has entered into a global collaboration agreement with Biosion and Aclaris Therapeutics for jointly developed product BSI-045B (TQC2731), a Thursday bourse filing said.
Aclaris Therapeutics has also entered into a license agreement with Biosion for the exclusive rights to develop, manufacture, and commercialize the drug and another preclinical product worldwide, excluding Mainland China, Macau, Hong Kong, and Taiwan.
The deal includes over $40 million in upfront cash and reimbursements, 19.9% of Aclaris' common stock valued at approximately $54 million, potential milestone payments of over $900 million, and a single-digit royalty on annual net sales.
BSI-045B (TQC2731) is currently being evaluated in clinical trials for indications, including asthma, chronic rhinosinusitis with nasal polyps, and atopic dermatitis.
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