RE: Steifel agreement? Welichem will receive an initial payment of CAD$35 million and is eligible to receive additional payments upon achievement of certain clinical development milestones and upon commercialization in certain countries following marketing approval from the corresponding regulatory agencies. The transaction is subject to approval by the shareholders of Welichem.
Under terms of the agreement, Stiefel has also received a conditional right to acquire further exclusive rights to develop and commercialize WBI-1001 in China, Taiwan, Macao and Hong Kong, collectively, at a future date upon satisfaction of certain conditions and upon making an additional payment of CAD$15 million.