CrystalGenomics Invites Amends Thai Distribution Deal for Aselex Tablets
CrystalGenomics Invites (KOSDAQ:A083790) has amended its September 2021 supply and exclusive distribution deal with Biopharm Chemicals for Aselex 2mg tablets in Thailand.The updated $7.9 million deal includes a $50,000 upfront payment, minimum annual purchase quotas through September 2027, and regulatory milestones, according to a Korean regulatory filing on Monday.Under the revised terms, Biopharm will submit a new drug application to Thailand's FDA within 12 months of receiving the registration package, secure approval within 24 months, and launch the product within six months thereafter.Revenue recognition remains contingent on successful regulatory clearance, and the contract may be terminated if approval fails.The five-year commercial term will commence upon FDA approval, with further disclosures to follow once Thai regulatory clearance is obtained.
