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China-based Haisco Pharmaceutical Group has entered into an exclusive licensing agreement with AbbVie, a global biopharmaceutical company. Under the agreement, Haisco grants AbbVie the exclusive rights to develop, manufacture, and commercialise novel medicines for the treatment of pain globally, excluding mainland China, Hong Kong, and Macau.
The programme includes multiple compounds designed to address pain-related indications. These compounds are currently at various development stages in China, ranging from preclinical to Phase 1 clinical development.
The collaboration strengthens Haisco's global presence and pipeline by leveraging AbbVie's development and commercialisation capabilities, as well as its recognised expertise in neuroscience.
Haisco will receive an upfront payment of $30 million and is eligible to receive up to $715 million in aggregate development, regulatory, and commercial milestone payments. In addition, Haisco is eligible to receive tiered royalties on future net sales.
