Walvax Bio enters micro-ecology field with exclusive licensing deal

Yunnan Walvax Biotechnology (SZSE:300142) has announced an exclusive sublicense agreement with U.S.-based Notitia Biotechnologies Company to develop and commercialize microecological health targeted technologies in mainland China, Hong Kong, and Macau. Under the agreement, Walvax gains access to Notitia's core microbiota analysis, microbiota-targeted transplantation, and nutritional formula technologies, derived from Notitia's upstream license agreement with Rutgers University. Walvax will pay Notitia a $1 million upfront fee, with milestone payments including $500,000 upon the first nutritional formula sub-licensed product receiving new medical technology approval, $3 million upon regulatory approval for a special medical purpose food, and $30.5 million contingent on reaching CNY 1 billion in sub-licensed product sales within a 12-month period. Additionally, Walvax will pay Notitia royalties of 6.5% on net sales of sub-licensed products.