Regent Pacific (00575.HK) announced on July 26th that on July 26th, 2024, Plethora (a wholly-owned subsidiary of the company) and Kobayashi (a company registered in Japan) entered into a license agreement. The content is about the right to commercialize Fortacin, Plethora's latest drug for the treatment of premature ejaculation, by selling and (including) distributing Fortacin in Japan.
Plethora continues to retain the right to fully commercialize Fortacin in other parts of the world (including but not limited to the United States and Canada, Latin America, the Middle East, and sub-Saharan Africa).
Kobayashi shall be responsible for submitting applications at its own expense and obtaining any and all regulatory approvals required by applicable law to commercialize Fortacin in the region. Plethora shall provide reasonable assistance that it may request to Kobayashi, with costs borne by Kobayashi, to seek and obtain regulatory approvals.
According to the license agreement, (i) after achieving certain milestones related to sales in the region, the Group (through Plethora) will have the right to receive payments of up to $1.55 million (or approximately HKD 12.09 million), excluding royalties; and (ii) the Group (through Plethora) will have the right to receive double-digit percentage royalties before the 10th anniversary of the first commercial sale.