Athenex announced that it has entered into an agreement with PharmaEssentia to license the rights to develop and commercialize Athenex’s Oradoxel in Taiwan, Singapore and Vietnam. The existing licensing agreement for Oraxol with PharmaEssentia is being expanded to account for additional considerations, including milestone payments, for Oradoxel. In December 2013, Athenex and PharmaEssentia entered into a license agreement, pursuant to which PharmaEssentia was granted a license to develop and commercialize Oraxol and Oratecan in Taiwan and Singapore. The agreement was amended in December 2016 to also include Vietnam in the territories covered by the license. Under the terms of the expanded agreement, which includes Oradoxel, Athenex will receive a cash payment as well as the potential to receive additional milestone payments for certain development and regulatory milestones of Oradoxel in the territories. PharmaEssentia will be responsible for all activities and expenses relating to clinical development, regulatory approval, and commercialization of Oradoxel in the territories.
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