- Eluminex Biosciences (Suzhou) Limited has exclusively licensed global rights to develop and commercialize a biosynthetic cornea from FibroGen Inc FGEN.
- The biosynthetic cornea is derived from recombinant human collagen Type III and is intended to treat patients with corneal blindness.
- Under the terms of the agreement, Eluminex will make an $8 million upfront payment to FibroGen.
- In addition, FibroGen may receive up to $100 million in milestone payments. It is also eligible to receive royalties based upon worldwide net sales.
- The Eluminex biosynthetic cornea (EB-301) is a clinical-stage corneal stromal substitute that will be initially developed for the China market.
- Price Action: FGEN shares are down 1.74% at $14.10 during the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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