Genexine, a South Korean novel drug developer, out-licensed five long acting biologic drug candidates to Tasly Pharma of Tianjin in a deal worth up to $100 million. Genexine will receive $20 million upfront and up to $80 million in development and commercial milestones, and Tasly will also pay royalties on sales. Tasly will own China rights to three Genexine products in clinical or near-clinical stage and global rights for two additional candidates in preclinical development. A Tasly subsidiary, Tasgen, will develop the Genexine products.
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