Novelos Therapeutics and Lee's Pharmaceutical Sign Exclusive Collaboration Agreement in China for Cancer and Hepatitis Compounds
20-Dec-2007
Lee's Pharmaceutical will be responsible for the cost of all clinical development, regulatory submissions and commercialization of NOV-002 and NOV-205 in China. In addition to upfront and milestone payments, Novelos will receive 20-25% royalties from Lee's Pharm on net sales of NOV-002 and 12-15% royalties on net sales of NOV-205.
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