Crystal Signs Exclusive License Agreement with Hansoh Pharma for 'Camrelizumab' in Korea
[Asia Economy Reporter Geum Bo-ryeong] Crystal announced on the 21st that it has signed an exclusive license agreement for Camrelizumab (PD-1 antibody immuno-oncology drug) in Korea with Hengrui Pharmaceuticals.
The contract amount is $1.5 million (approximately 1.83 billion KRW). The milestones are set at $500,000 (610 million KRW) upon the first indication approval, $500,000 per additional indication approval, and up to a maximum of $1.5 million.
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Crystal stated, "Upon the expiration of the contract period, if there is no breach of contract by Hengrui Pharmaceuticals, this exclusive right will automatically convert into a fully paid, permanent, non-exclusive, and royalty-free right that cannot be revoked."
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