C-MER associate secures global licensing deal for antiviral drug with Gilead, Hanmi

C-MER Medical Holdings Limited announced that its associate, Health Hope Pharma (HHP), entered into a tri-partite global licensing and collaboration agreement with Gilead Sciences, Inc. and Hanmi Pharm. Co., LTD. for encequidar. HHP, which holds global exclusive rights to encequidar in the field of virology (excluding Korea), will grant Gilead exclusive global rights for the compound's use in virology. HHP and Hanmi will also provide drug supply, share technical know-how, and serve as key project partners.

Under the terms of the agreement, HHP is slated to receive an upfront payment of $10 million. Additionally, HHP may be eligible for potential future payments of up to approximately $72.5 million and low single-digit royalties on net sales, subject to the fulfillment of certain conditions and milestones.

HHP, established in July 2023 by C-MER and Dr. Dennis Lam, focuses on innovative drug projects. Its most advanced program involves oral paclitaxel combined with encequidar for metastatic breast cancer, with phase 3 global multicenter clinical trials expected to commence in the U.S., Hong Kong, and New Zealand by 2025. HHP is held as to 21.8% by C-MER and is majority controlled by Dr. Dennis Lam.