BioCentury
ARTICLE | Company News

Resverlogix, Shenzhen Hepalink Pharmaceutical deal

May 4, 2015 7:00 AM UTC

The companies reached a framework under which Resverlogix will grant Hepalink exclusive rights to develop and commercialize RVX-208 in Taiwan and China, including Hong Kong and Macau. Resverlogix agreed not to negotiate RVX-208 licensing agreements in the territory for three months. The deal is expected to close in June.

Hepalink will receive a C$35 million ($28.7 million) equity stake in Resverlogix through the purchase of 13.3 million shares and 1 million warrants at C$2.67 per unit. Resverlogix is eligible for more than $400 million in sales milestones and single-digit royalties from Hepalink. Hepalink will be responsible for development costs in the regions. Subject to the completion of the transaction, shareholder Eastern Capital Ltd. will receive an additional C$15 million ($12.3 million) equity stake in Resverlogix through the purchase of shares and warrants at C$2.67. ...