Jiangsu Hengrui Medicine (SHA:600276) signed a licensing agreement with Merck for its oral GnRH receptor antagonist, SHR7280, used in assisted reproduction.
Under the deal, Merck gains exclusive commercialization rights for mainland China and priority negotiation rights elsewhere, according to a Tuesday filing with the Shanghai bourse.
The company will receive a down payment of 15 million euros, as well as milestone payments upon regulatory approval and double-digit royalties on net sales.
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