On December 5th, Gelonghui reported that sino biopharm (01177.HK) announced that the group has reached a global cooperation agreement with Aclaris Therapeutics, Inc. concerning their jointly developed TSLP monoclonal antibody "BSI-045B (TQC2731)" with Boaoxin Biotechnology (Nanjing) Co., Ltd. ("Boaoxin").
At the same time the cooperation agreement was reached, Aclaris Therapeutics and Boaoxin entered into a licensing agreement, obtaining exclusive authorization for the development, production, and commercialization of BSI-045B (TQC2731) and another preclinical product globally (excluding mainland china, macao, hong kong, and taiwan). According to the terms of the cooperation and licensing agreements, Aclaris Therapeutics agrees to pay a total of over 40 million dollars in cash as an upfront payment and to bear part of the development costs and drug product material expenses, along with 19.9% equity in Aclaris Therapeutics (stock number NASDAQ: ACRS, valued at nearly 54 million dollars based on the closing price on December 4, 2024), with a total potential exceeding 0.9 billion dollars in research and development and sales milestone payments, and a percentage of sales profit sharing. The group will receive a portion of the transaction value above.
