RegeneRx and Lee's Pharma complete license deal for China and Taiwan

USA-based RegeneRx Biopharmaceuticals (OTC Bulletin Board: RGRX) has entered into a licensing agreement with Lee’s Pharmaceutical, headquartered in Hong Kong, for the license to Lee’s of RegeneRx' Thymosin Beta 4-based products, including the company’s RGN-259, RGN-352 and RGN-137 product candidates, in China (including Hong Kong and Macau) and Taiwan.

Lee’s previously paid RegeneRx $200,000 on signing of a term sheet and will pay the US firm an additional $200,000 with the completion of this license agreement. The terms of the deal include aggregate potential milestone payments of up to $3.6 million 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’ products outside of the licensed territory.

Lee’s will pay for all development costs associated with each product candidate. RegeneRx will provide Tbeta4 to Lee’s at no charge for a Phase II ophthalmic clinical trial and will provide Tbeta4 to Lee’s for all other development and clinical work at a price equal to RegeneRx’ cost.