CSPC Pharmaceutical Group Signs $118.5 Million Deal For Two Molecules From University of Texas
CSPC Pharmaceutical of Hong Kong acquired global rights to two pre-clinical drug candidates developed by researchers at University of Texas institutions. The company paid $4.5 million upfront and could pay as much as $114 million in milestones for the rights. A CSPC subsidiary, AlaMab Therapeutics, will be responsible for developing the mAb candidates, which are derived from proteins called connexins and play a role in neuronal and skeletal tissue disease. AlaMab will work to gain approvals of the molecules in the US and China.