Xin Lang Cai Jing·2025-08-26 11:28Core Viewpoint - Shanghai Fosun Pharmaceutical Group Co., Ltd. announced a licensing agreement with Sitala for the global development, production, and commercialization of FXS6837, excluding China and its regions [1][6] Licensing Product Information - FXS6837 is a small molecule inhibitor developed by Fosun Pharmaceutical, aimed at treating immune modulation-related diseases, currently in Phase II clinical trials in China [2] - As of July 2025, Fosun has invested approximately RMB 120 million (around $17 million) in the development of FXS6837 [2] - The global sales for major drugs treating related diseases are projected to reach approximately $3.8 billion in 2024 [2] Counterparty Information - Sitala, founded in May 2021 and based in the UK, focuses on developing innovative drugs for inflammatory and autoimmune diseases [3] - The company is backed by several well-known investment institutions from Europe and the US, although specific financial data is confidential due to its non-public status [3] Licensing Agreement Details - The agreement grants Sitala exclusive rights to develop, produce, and commercialize the licensed product globally, excluding China [6] - Sitala will pay up to $19 million in non-refundable upfront payments, including a $2.5 million upfront fee and up to $16.5 million in development and commercialization milestone payments [6] - Additionally, Sitala is obligated to pay up to $48 million in sales milestone payments based on annual net sales in the licensed region [6] - The agreement is effective as of August 26, 2025, and is governed by New York State law [6]