HLB Acquires Global Patent Rights for Lenvatinib for 49.8 Billion KRW
[Asia Economy Reporter Minji Lee] HL Biotech announced on the 7th that it has signed an asset transfer agreement with Advenchen Laboratories Nanjing and SFFT Developing Co., Ltd (hereinafter referred to as the transferors) to acquire the global patent rights of YN968D1 (named Rivoceranib globally and Apatinib in China) for $42 million (KRW 49.875 billion).
The company stated, "The purpose of the asset transfer agreement is to secure long-term and stable cash flow and operating profit through the receipt of global royalties from Rivoceranib, and to accelerate the ongoing NDA and additional indication clinical trials of Rivoceranib through close cooperation with Hansoh Pharmaceutical."
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On the same day, HL Biotech also announced that it decided on a paid-in capital increase of KRW 32.062 billion targeting the two transferors. The issue price is KRW 98,007 per share, and the scheduled listing date of the new shares is December 21.
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