2023.04.23
On April 13, 2023, GeneQuantum Healthcare (Suzhou) Co., Ltd. (“GQ”) and Pyramid Biosciences (“Pyramid”) declared that they had entered into an exclusive license agreement regarding GQ-1010.
Pursuant to the agreement, GQ would grant Pyramid an exclusive license with respect to the right to develop and commercialize GQ-1010 worldwide (except for mainland China, Hong Kong, Macao and Taiwan), in partial consideration of which, Pyramid would make a down payment to GQ of USD 20 million and a potential milestone payment up to USD 1 billion, as well as tiered royalty payments.
GQ was founded in 2013. It is an innovative global biopharmaceutical company and has diversified platform technologies which may facilitate the development of coupling drugs. It provides safer, more efficient, accessible and innovative drugs and therapeutic solutions to patients around the world.
Pyramid was established in 2014 and is a New Jersey-based clinical biotechnology company dedicated to developing transformative medicines for cancer patients.
JunHe was appointed by GQ to assist with the drafting, review, revision and negotiation of the definitive agreement for this project and its supporting agreements. In this project, JunHe maintained its dedicated approach and was highly commended by the client.
This project was led by WANG, Zhaohui (Zoe) and undertaken by WANG, Zhaohui (Zoe) and ZHAO, Hao (Gerry).
