Samil Pharmaceutical Signs License Agreement for Arthritis Treatment with U.S. Pharmaceutical Company

[Asia Economy Reporter Ji Yeon-jin] Samil Pharmaceutical announced on the 30th that it has signed a license agreement with the US pharmaceutical company Biosplice Therapeutics, Inc for exclusive rights to the domestic approval and sales of the arthritis treatment Lorecivivint.

The total contract amount is 10 million dollars. The signing fee is 3 million dollars, and 7 million dollars will be paid according to each clinical and approval stage. Additionally, royalties will be paid based on the sales performance after the new drug is launched.