Updated on 23 October 2013
Fosun’s indirect subsidiary Chongqing Fochon Pharma enters $531.40 million deal with Sellas Clinicals
Singapore: China-based Shanghai Fosun Pharma is planning to sell ex-China rights for two of its drug candidates to Sellas Clinicals Holding of Switzerland.
The two drugs, which are used as treatment for cancer and diabetes respectively, are among the best sellers of Shanghai Fosun Pharma.
Sellas is expected to pay up to $531.40 million in clinical milestones, which are based on clinical trials that have been conducted in the US and Europe. The agreement, which has not been finalized yet, will be between Sellas and an indirect subsidiary of Fosun named, Chongqing Fochon Pharma.