Xbrane Biopharma, a Swedish company, signed a non-binding term sheet with an unnamed China pharma for China distribution of Spherotide, a long-acting generic form of Decapeptyl®, a cancer drug. The unnamed China pharma will pay $1.9 million on signing and make three additional milestone payments to bring the total to $7.6 million. Xbrane describes the China pharma as a large company that is active in all sectors of China's pharma market. Xbrane will manufacture the drug, but the China company will be responsible for all clinical trials. Launch is expected in 2021.
