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HLB's acquisiton of Rivoceranib's global rights

On February 26, HLB signed a binding term sheet to Rivoceranib to acquire global rights, (including China) from Advenchen Laboratories (Rivoceranib's original developer). The total acquisition amount is 50 Million USD and a significant portion of it will be paid as HLB's stock (KOSDAQ).


Advenchen Laboratories signed a licensing agreement with Hengrui Medicine in 2004 and has been receiving royalty on Rivoceranib (Apatinib) sales in China since 2014 and under a license agreement with Elevar in 2007, HLB will receive a royalty for future global sales outside of China. Under the agreement to transfer rights of Rivoceranib with Advenchen Laboratories, HLB will secure the global rights (including China) of Rivoceranib held by Advenchen and will receive a royalty from Hengrui Medicine this year, starting with the sales in Hengrui Medicine in 2019.