Brief: Sichuan Kelun-Biotech Biopharmaceutical Updates On Collaboration With Merck Sharp & Dohme LLC

Sichuan Kelun-Biotech Biopharmaceutical

23/10/2023 11:28

Oct 23 (Reuters) - Sichuan Kelun-Biotech
Biopharmaceutical Co Ltd  6990.HK :
    * ENTERED INTO THREE LICENSE AND COLLABORATION AGREEMENTS
WITH
MERCK SHARP + DOHME LLC
    * ON OCTOBER 21 RECEIVED FORMAL WRITTEN NOTICE FROM MSD
    * NOTICE FROM MSD THAT MSD MADE A DECISION TO TERMINATE AN
EXCLUSIVE LICENSE COMPANY GRANTED TO MSD
    * AGREEMENTS TO DEVELOP UP TO NINE ADC ASSETS FOR CANCER
TREATMENT
    * MSD NOT TO EXERCISE EXCLUSIVE OPTION CO GRANTED TO OBTAIN
EXCLUSIVE LICENSE TO ANOTHER PRECLINICAL ADC ASSET
    * NOT OBLIGED TO RETURN ANY PAYMENTS RECEIVED OR MAKE ANY
PAYMENTS
TO MSD
    * NONE OF EXCLUDED PRECLINICAL ADC ASSETS IS A CORE PRODUCT
OR KEY
PRODUCT OF COMPANY
    * APPLICATION HAS BEEN MADE TO STOCK EXCHANGE FOR RESUMPTION
OF
TRADING IN H SHARES WITH EFFECT FROM OCT 24
    * MSD IS NOT OBLIGED TO PAY ANY TERMINATION FEE OR REQUIRED
TO PAY
ANY FUTURE MILESTONE OR ROYALTY PAYMENTS
    * COLLABORATION WITH MSD FOR THREE CLINICAL-STAGE ADC ASSETS
AND
FOUR PRECLINICAL ADC ASSETS UNAFFECTED

Further company coverage:  6990.HK 

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