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Luye Pharma’s Shares Drop on Acquisition of Two Biological Antibodies

firstwordpharmaDecember 25, 2018

Tag: clinical development , monoclonal antibody , LUYE PHARMA , clinical development

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Luye Pharma announced that it acquired the biological monoclonal antibodies, LY01011 and LY09004, from Shandong Boan Biological Technology for nearly $73 million, reported Investing.com.

Both drugs are in clinical development and are expected to launch in 2023, if approved.

Shandong Luye will pay 60 percent of the agreed amount five days after signing the agreement, and another 20 percent five days after Boan completes the Phase III trial of the compounds.

The remaining 20 percent will be due five days after China's National Medical Products Administration clears the products.

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