China’s CMS Medical Signs Multi-Million Dollar Deal With Israeli Pharma Company Can-Fite
New York-listed Can-Fite develops small molecule drugs used in the treatment of liver and inflammatory diseases and cancer
Amarelle Wenkert | 14:59 07.08.2018
CMS Medical Venture Investment Limited, a wholly-owned subsidiary of China Medical System Holdings Limited, has signed a licensing, development, and distribution agreement with New York-listed Israeli pharmaceutical company Can-Fite BioPharma Ltd., the companies announced Monday.
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Can-Fite is a developer of small molecule drugs used in the treatment of liver and inflammatory diseases and cancer. The Company’s lead drug candidate, Piclidenoson, is currently in a Phase III trial for rheumatoid arthritis and is expected to enter a Phase III trial for psoriasis by the end of the year.
CMS Medical has made an upfront payment of $2 million to Can-Fite and committed to milestone payments of up to $14 million upon achievement of certain regulatory milestones, and payments of up to $58.5 million upon the achievement of certain sales milestones. The agreement includes double-digit royalty payments on net sales.
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