Alembic Pharmaceuticals announced that its associate company, Rhizen Pharmaceuticals, a Switzerland-based privately held clinical-stage biopharmaceutical company, and Curon Biopharmaceutical (Curon), a clinical-stage innovative biopharmaceutical company with facility in Shanghai have entered into an exclusive license agreement for the development and commercialization of Tenalisib, a dual PI3K delta & gamma inhibitor in the Greater China region.
Under the terms of the agreement, Rhizen will receive an undisclosed upfront cash payment and is eligible to receive additional development and commercial milestone payments with an overall deal value of USD 149.5 million plus double-digit royalties on annual net sales of Tenalisib.
Curon obtains the exclusive development and commercialization rights of Tenalisib for Greater China across all oncology indications, and will lead the clinical development in that territory by leveraging its unique expertise in translational research, clinical development and regulatory registration and its extensive research collaboration experience, to accelerate the development of and regulatory approval of this product in Greater China.
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