Antibe Therapeutics Inc. (TSX: ATE, OTCQB: ATBPF) today announced that it has licensed otenaproxesul to Nuance Pharma for commercialization in the Greater China region. Nuance is a biopharmaceutical company focused on licensing, developing and commercializing globally innovative therapies to address critical unmet medical needs in China and other Asia Pacific markets. Founded by Mark Lotter, who built the AstraZeneca commercial franchise in China, and led by executives with extensive multinational pharma experience, Nuance focuses on identifying and in-licensing therapies that have achieved best-in-class, human proof-of-concept status.
The license provides Nuance with exclusive rights to commercialize otenaproxesul in China, Hong Kong, Macau, and Taiwan, representing approximately 10% of the worldwide pharma market.1 Under the terms of the agreement, Antibe is entitled to US$100 million in milestone payments, including US$20 million upfront and US$80 million in development and sales milestones, in addition to a double-digit royalty on sales. Clinical development and regulatory costs for the region will be borne by Nuance. Antibe and Nuance have established a structure for collaborating on otenaproxesul?s clinical development in the region, ensuring a fit with Antibe?s global regulatory strategy.