I-Mab Biopharma of Shanghai partnered greater China rights for its long-acting GLP-1 Fc type 2 diabetes product to CSPC Pharma in a $22 million agreement. TG103’s long-acting formulation allows once-weekly or bi-weekly subcutaneous administration. CSPC will make a $2 million upfront payment and up to $20 million in milestones. I-Mab will also receive royalties on sales, while CSPC will contribute to development expenses. I-Mab was formed in early 2017 with backing from C-Bridge Capital and Tasly Pharma.
Source: China Biotoday
