Shanghai Fosun Pharma will invest $10 million into Glycotest, a New York City company that is developing non-invasive diagnostic tests for early stage hepatocellular carcinoma (HCC), liver fibrosis and cholangiocarcinoma (bile duct cancer). Fosun will own 40% of Glycotest after it completes its investment and will have rights to market Glycotest’s HCC panel in China, paying a royalty. Fosun will make an upfront payment of $3 million and milestone payments for the remaining $7 million.
Source: China Biotoday
