Kintor Pharmaceutical has announced that it has entered into a licensing agreement with Shanghai Fosun Pharmaceutical Development, on the commercialisation of proxalutamide for the treatment of COVID-19 in India and 28 African countries  (the Collaboration Regions). 

Chinese firms Kintor and Fosun Pharma Development will collaborate on the emergency use authorization applications, promotion, and sales of proxalutamide for the treatment of COVID-19. 

According to the licensing agreement, Fosun Pharma Development will be granted exclusive rights of registration and commercialisation of proxalutamide in the Collaboration Regions.

Kintor Pharmaceutical will be eligible to receive upfront payment and milestone payments up to RMB560 million (upfront and development milestone payments up to RMB110 million and commercialisation milestone payments of RMB450 million).

Kintor Pharmaceutical will also be eligible to receive royalty payments that are not less than 50% of the total operating profit in the Collaboration Regions, based on a tiered structure per the amount of net sales as agreed by both companies.

Proxalutamide is a new-generation androgen receptor (AR) antagonist. Since the outbreak of the COVID-19 pandemic in early 2020, Kintor Pharmaceutical has made rapid progress on the study on proxalutamide as a potential treatment for COVID-19.