Expedition picks Fosun therapy for first China in-licensing agreement: Deals Report

A start-up hunting for in-licensing opportunities in China has closed its first deal, gaining most global rights to a program from Fosun.

Backed by Venrock, BVF Partners and Lake Bleu Capital, and led by founding CEO Yi Larson, Expedition Therapeutics Inc. has obtained rights outside of China, Hong Kong and Macau to small molecule therapy XH-S004.  Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKEX:2196) is to receive $17 million up front; the China-based pharma is eligible for $103 million in development and regulatory milestones, $525 million in commercial milestones, and royalties associated with the program...