China Grand Pharmaceutical and Healthcare Holdings (China Grand Pharma) recently signed a licensing agreement with Australia-based Telix Pharmaceuticals, which will see it make advance payments totaling $225 million plus milestone payments to the Australian company, according to local media reports.
China Grand Pharma obtained the development, production and commercialization rights of many of Telix Group's anti-cancer drugs in the Greater China market.
Within a certain period of time in the future, it will also obtain the priority negotiation rights for the exclusive development, production and commercialization rights of other Telix Group products in the Greater China region.
According to the announcement by China Grand Pharma, Telix Pharmaceuticals is a biotechnology company headquartered in Melbourne, Australia.
The company focuses on new radionuclide-targeted molecular drug coupling technology, and uses this innovative technology platform to develop and apply drugs in the field of cancer treatment and diagnosis.
Telix Pharmaceuticals' research and development projects cover a variety of cancers with high morbidity and high mortality, and more than 10 clinical studies have been carried out worldwide.
Its new radionuclide coupling technology can upgrade the imaging diagnosis and treatment of multiple cancers.
China Grand Pharma's introduction of Telix Pharmaceuticals' drugs and technologies is intended to bring solutions to Chinese patients in the diagnosis and treatment of multiple cancers.
