Biotech & Genomic Medicine▲
Aligos Secures $25M Upfront in Greater China HBV Deal
Aligos Therapeutics has received a $25 million upfront payment from Xiamen Amoytop Biotech under an exclusive license agreement for Pevifoscorvir sodium in Greater China. The therapy targets chronic hepatitis B virus infection and recently obtained Breakthrough Therapy Designation from China's National Medical Products Administration. Aligos is eligible for up to $420 million in clinical, regulatory, and sales milestones, plus tiered royalties on net sales in Amoytop's licensed territories, while retaining rights in the U.S., Europe, South Korea, Japan, and other markets. CEO Lawrence Blatt noted that a joint steering committee has been formed and Amoytop plans to initiate clinical development of Aligos' antisense oligonucleotide candidate ALG-170675 in China later this year. The stock closed Monday at $5.85, up 4.65%, and rose to $6.46 in overnight trading, a 10.43% gain.