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Genrix Grants CQ Pharmaceutical Distribution Rights for Myeloma Drug in China, Hong Kong, Macau, Taiwan

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Chongqing Genrix Biopharmaceutical (SHA:688443) granted C.Q. Pharmaceutical (SHE:000950) subsidiary Yaoyou Pharmaceutical exclusive development and distribution rights for the GR1803 drug across China and Hong Kong, Macau, and Taiwan.

The agreement covers development such as clinical trials, research, and manufacturing, as well as sales, the filing said.

The GR1803 velitumimumab drug is indicated for multiple myeloma, a rare form of blood cancer.

Yaoyou will pay Genrix up to 600 million yuan in initial payment, listing milestone, and technology transfer milestone payments.

Genrix will also be eligible to receive sales royalties of up to a minimum percentage of two digits.

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