Fosun licensing two preclinical compounds to Sellas

Shanghai Fosun Pharmaceutical Group Co. Ltd. (Shanghai:600196; HKSE:2196) granted CRO Sellas Life Sciences Group (Zurich, Switzerland) worldwide rights excluding China to two preclinical compounds in development for diabetes and lung cancer. Fosun is eligible for up to EUR 388 million ($530.5 million) in milestones, plus 10% royalties. The compounds are: fotagliptin benzoate, a dipeptidyl peptidase-4 (DPP-4) inhibitor in development for Type II diabetes; and an undisclosed pan-HER kinase inhibitor in development for lung cancer. Sellas said the compounds are slated to start clinical testing next quarter. The deal is subject to approval by Fosun shareholders. ...