RE:RE:RE:RE:RE:RE:RE:Biotech buyouts.Adlai Nortye's "exclusive" licensing agreement for China, Hong Kong, Macau, Singapore, South Korea and Taiwan was in exchange for an up-front payment on signing, followed by a significant milestone payment on the inititiation of a Phase III pelareorep study, and then lower mid-level double digit royalty payments on gross revenues stemming from product approval and commercialization.
The reason for this licensing deal was due to potential of the recurring royalty payments based on the significant size of the Chinese market and the fact that Adlai Nortye, as an emerging Chinese biopharmaceutical company, has the incentive to fully execute on the opportunity to commercialize pelareorep in China and the territories mentioned. Unlike ONCY, Adlai Nortye also has the necessary regional knowledge and the ability to develop the commercialization logistics to execute the full potential of their license in the named Chinese regions.