Navidea inks China commercialization deal

|About: Navidea Biopharmaceuti... (NAVB)|By:, SA News Editor

Navidea Biopharmaceuticals (NYSEMKT:NAVB) enters into an exclusive agreement with a wholly-owned subsidiary of Hainan Sinotau Pharmaceutical Co., Ltd., to develop and commercialize Lymphoseek (technetium Tc 99m tilmanocept) Injection in China.

Under the terms of the agreement, Navidea will earn royalties on units sales, an upfront payment of $300K, up to $700K in development milestone payments and up to $1.5M in sales-related milestones.

Sinotau is responsible for funding and conducting clinical studies and regulatory submissions to the China Food and Drug Administration. It will be responsible for all sales and marketing activities post approval in China exclusive of Hong Kong, Macau and Taiwan.