Chengdu Baiyu enters
into a license agreement for the development and commercialization of its Anti-tumor
small molecule inhibitor Baiyu to receive $70 million upfront, with potential for up
to $1.1 billion in development, regulatory and commercial milestones as well as
tiered royalties.CHENGDU, Oct.16th, 2024-- Chengdu Baiyu
Pharmaceutical Co., Ltd. ("Baiyu") today announced that it has
entered into an exclusive license agreement with Novartis for a small molecule
anti-tumor asset.Under the terms of the license agreement, Baiyu will
receive an upfront payment of $70 million and is eligible to receive additional
development, regulatory and commercial milestones payments of up to $1.1
billion, as well as tiered royalties.Novartis has been granted an exclusive worldwide license
for the development and commercialization of this asset.BFC Group acted as
the exclusive financial advisor to Baiyu.This collaboration is an important step for Baiyu in making
potential anti-tumor drugs available to patients globally, and Baiyu look
forward to positive results being realized.About Chengdu Baiyu
Biopharmaceutical Co., Ltd.Founded in 2005, Baiyu is a pharmaceutical company headquartered in Chengdu, China. The company is dedicated to discover and develop innovative medicines, for which it has earned numerous prestigious national awards. With over 20 years of focused research on the core pharmacological components of Ginkgo biloba, we have successfully developed modern botanical drugs, including Ginkgolide Injection and Ginkgolide Dropping Pills.