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AffaMed Signs $145 Million Agreement for China Rights to Ophthalmic Drug

publication date: Jan 4, 2022

Shanghai AffaMed acquired greater China rights to an ophthalmic drug from Korea's Hanmi Pharma in an $145 million agreement. AffaMed will have rights to manufacture, develop and commercialize risuteganib (Luminate®), a first-in-class intravitreal injectable product that targets intermediate Dry Age-related Macular Degeneration and other vitreo-retinal diseases. Hanmi will receive $6 million upfront plus milestones and royalties. In 2020, CBC Group merged two of its portfolio companies, AffaMed and EverInsight Therapeutics, into a single entity under the AffaMed name. More details....

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