Salubris Pharma Buys Into Viracta, Eyes Exclusive License for Cancer Treatment
Tang Shihua
DATE:  Nov 30 2018
/ SOURCE:  yicai
Salubris Pharma Buys Into Viracta, Eyes Exclusive License for Cancer Treatment Salubris Pharma Buys Into Viracta, Eyes Exclusive License for Cancer Treatment

(Yicai Global) Nov. 29 -- Salubris Pharmaceuticals plans to buy a 15.25 percent stake in American tumor treatment maker Viracta Therapeutics and snag an exclusive license to use its intellectual property in China.

Splendris International, a subsidiary of the Shenzhen-based buyer, plans to raise USD10 million itself to buy into Viracta's C-round, the parent said in a statement yesterday.

It hopes after taking a stake in the firm that it will be able to bag an exclusive license to use Viracta's nanatinostat drug. It would own the rights to the label and related products to develop, produce, market and sell the drug in China, which can be used to treat nasopharyngeal and gastric cancer.

The firm is prepared to pay up to USD58 million in milestone payments based on the progress of the drug's development and registration in China, it added. Salubris would also need to share a percentage of sales with Viracta during the patent term.

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Keywords:   Salubris Pharmaceuticals ,VIRACTA THERAPEUTICS,Cancer Treatment