RTTNews | Jan 10, 2021 09:00PM EST

20:59 Sunday, January 10, 2021 (RTTNews.com) - Hutchison China MediTech Limited (HCM) or Chi-Med and Inmagene Biopharmaceuticals have partnered to further develop four novel preclinical drug candidates discovered by Chi-Med for the potential treatment of multiple immunological diseases.

Inmagene will provide fund for the partnership. The companies will work together to move the drug candidates towards investigational new drug submission. If successful, Inmagene will then move the drug candidates through global clinical development, Chi-Med said in a statement.

As per the terms of the deal, Chi-Med grants Inmagene exclusive options to four drug candidates solely for the treatment of immunological diseases. Should Inmagene exercise the option, it will have the right to further develop, manufacture and commercialize that specific drug candidate worldwide, with Chi-Med retaining first right to co-commercialization in mainland China.

For each of the drug candidates, Chi-Med will be entitled to development milestones of up to $95 million and up to $135 million in commercial milestones, as well as up to double-digit royalties upon commercialization.

Read the original article on RTTNews ( https://www.rttnews.com/3159078/chi-med-inmagene-to-develop-commercialize-portfolio-of-drug-candidates-for-immunological-diseases.aspx)

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