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July 16, 2012
08:36 EDTRGRXRegeneRx completes license agreement for development of RegeneRx products
RegeneRx announced that it has entered into a licensing agreement with Lee's Pharmaceutical Limited for the license to Lee's of RegeneRx's Thymosin Beta 4-based products, including the company's RGN-259, RGN-352 and RGN-137 product candidates, in China and Taiwan. Lee's previously paid RegeneRx $200,000 upon signing of a term sheet and will pay RegeneRx an additional $200,000 with the completion of this license agreement. The terms of the deal include aggregate potential milestone payments of up to $3.6M and royalties ranging from low double digit to high single digit royalties on commercial sales. RegeneRx also has the right to exclusively license any improvements made by Lee's to RegeneRx's products outside of the licensed territory.
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