The agreement also includes licensing development and commercialization rights for PEG-SN38 (EZN-2208), a Phase II PEGylated version of SN38, in the territory of China.
Hisun CEO and chairman Hua Bai said, "Enzon’s PEGylation technology is utilized in approved products generating a combined total of over $7 billion in annual sales, making them the partner of choice for validated PEGylation technology."
According to the agreement, Enzon is eligible to receive milestone payments and high-single-digit royalty on net sales for any product developed and commercialized in China, in addition to retaining rights to all PEGylated compounds outside of China.
Hisun will pay Enzon an undisclosed upfront fee, milestone payments and a high-single-digit royalty on net sales of PEG-SN38. Further financial terms have been kept confidential.