Lee's Pharm of Hong Kong will develop and market KL4 surfactant therapies for respiratory diseases, primarily for infants, in select Asian countries for Windtree Therapeutics of the US. Anticipating the agreement, Lee's previously invested $2 million in Windtree's private placement, and it will pay a $1 million upfront fee. The agreement also includes $37.5 million in potential milestones, plus royalties. Lee's will be responsible for development in the territories, and it has the right to manufacture non-aerosol KL4 surfactant for use in Asia.
