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news.BioLineRx has signed an out-licensing agreement with Jiangsu Chia-tai Tianqing Pharmaceutical (CTTQ) to develop, manufacture and commercialise its pre-clinical, second-generation NS3 protease inhibitor in China and Hong Kong.
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In exchange, BioLineRx will receive an upfront license fee, along with future development, regulatory and commercialisation milestones together worth approximately $30m in addition to projected sales-based royalties.
CTTQ will follow FDA and EMA guidelines during development and manufacturing of BL-8030 and resulting data can be accessed and used by BioLineRx for commercialisation and regulatory purposes in other parts of the globe excluding China and Hong Kong.
BioLineRx chief executive officer Kinneret Savitsky said the company found a strong partner for the further development of BL-8030 in China.
"We believe that given CTTQ’s extensive experience in the liver disease area, it will swiftly advance the development of BL-8030 at the highest global standards," Savitsky added.
CTTQ president Jian Sun Emba said, "After conducting a thorough due diligence process, we sincerely believe that BL-8030, even though still in pre-clinical development, has the potential to become an important addition to HCV combination therapies."