BRIEF—Hope Medicine inks global license with with Bayer

China’s Hope Medicine has signed a world-wide exclusive license agreement with Bayer on the development and commercialization of a human antibody targeting the PRL receptor for the treatment of male and female pattern hair loss, endometriosis and other chronic diseases with dysregulated PRL signaling.

Under the terms of the license agreement, Hope Medicine will develop and globally commercialize the novel PRL receptor antibody based on intellectual property from Bayer. Bayer will receive an undisclosed upfront payment, development and commercialization milestones as well as tiered royalties.

In connection with this global license agreement, Hope Medicine also announced its completion of Series A financing.

Trustbridge Partners (TBP), a leading global private equity firm with a focus on China has provided initial investment in US dollar to start development activities. Along with Qi Rui You Kang, and RMB.