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2 September 2020

Polyphor AG (SIX: POLN) and Shanghai Fosun Pharmaceutical (Group) Co. Ltd ("Fosun Pharma", stock code: 600196.SH; 02196.HK), through its Swiss affiliate Fosun Pharmaceutical AG entered into an exclusive licensing agreement for balixafortide to develop and commercialize balixafortide for the Chinese market with an initial focus on metastatic breast cancer. Balixafortide is a potent and highly selective blocker of CXCR4 and is currently the only CXCR4 antagonist in Phase 3 development for a solid tumor. China is projected to be the second largest market globally for breast cancer treatments. Additional cancer indications and combination therapies will be evaluated jointly by the companies. Polyphor retains all rights to balixafortide outside of China.

As part of the agreement, Polyphor will receive a USD 15 m upfront payment, is eligible for additional development milestone payments of up to USD 19 m, sales milestone payments of up to USD 148 m, and royalties on sales. The agreed upon royalty rates start in the low double digits and increase to the mid-teens based on net sales achieved in the territory.

VISCHER advised Polyphor AG on all legal issues related to the transaction. The VISCHER team was led by Christian Wyss with Matthias Staehelin, Fiona Gao and Camill Oberhausser (all Corporate) and Nadia Tarolli (Tax).

Read the press release