Kintor Pharmaceutical Limited, a clinical-stage biotechnology company developing innovative small molecule and biological therapeutics in China, has entered into a licensing agreement with PT Etana Biotechnologies Indonesia, on the commercialization of proxalutamide for the treatment of COVID-19 in Indonesia.

Pursuant to the Licensing Agreement, Kintor Pharma will receive from Etana upfront and milestone payments, in addition to the economic benefit relating to the sales from the launch of proxalutamide in Indonesia.

Dr. Youzhi Tong, Founder, Chairman, and CEO of Kintor Pharma, commented, "We are excited to establish a strategic collaboration with Etana. Recently, the highly contagious Delta strain of COVID-19 variant has been reported in many countries around the world, including Indonesia."

Mr. Nathan Tirtana, Co-founder and CEO of Etana, commented, "We hope the collaboration will help the governments to give a better treatment for COVID-19 patients in Indonesia as proxalutamide has demonstrated impressive clinical efficacy and safety in other countries clinical trials for the treatment of COVID-19 infection."