Summary by Moomoo AI
HUANG PHARMACEUTICALS (HUTCHMED) ANNOUNCED TODAY THAT UNDER THE TERMS OF A STRATEGIC PARTNERSHIP DATED JANUARY 11, 2021, IMPACT BIOLOGICS HAS EXERCISED AN OPTION TO ACQUIRE EXCLUSIVE RIGHTS IN THE GLOBAL DEVELOPMENT, PRODUCTION AND COMMERCIALIZATION OF IMG-007 AND IMG-004 TWO CANDIDATE DRUGS. Impact Bios will pay approximately 7.5% of common stock to Wong Pharmaceuticals and will be entitled to up to $9,250 million in development milestone payments and up to $1.35 million in commercial sales milestone payments, as well as post-commercialization distributions. IMG-007 is currently undergoing a global Phase IIa clinical trial for the treatment of moderate to severe characteristic dermatitis and alopecia, and IMG-004 has completed a Phase I single-dose incremental study and is a BTK inhibitor for immune diseases. Dr. Su Yuguo, CEO and Chief Scientific Officer of Wong Medicine, said that this collaboration demonstrates the potential of Wong Pharmaceutical's drug candidates and looks forward to working with Impact Biologics to make a difference for patients with immune diseases.