- Argos Therapeutics (ARGS) enters into a license agreement with Chongqing Lummy Co. Ltd. subsidiary Lummy (Hong Kong) Co. Ltd. covering the Arcelis immunotherapy technology and the commercialization of related products for the treatment of cancer in the territories of China, Hong Kong, Taiwan and Macau.
- Lummy HK will pay Argos royalties on net sales and up to an aggregate of $20M in milestones. In connection with the license agreement, Chongqing limited partners Tianyi Lummy International Holdings and China BioPharma Capital will purchase 1M shares of Argos common stock at $10.11 (today's close: $8.84). They will buy an additional $10M of stock based on certain conditions.
- Lummy HK has the right of first refusal regarding an Arcelis license in infectious diseases for the same territories.