Sidley Represents Hengrui Medicine in its License Agreement with CrystalGenomics

Sidley advised Jiangsu Hengrui Medicine Co., Ltd., a leading biopharmaceutical company in China, in entering into a license agreement with CrystalGenomics, Inc., a South Korea-based biopharmaceutical company. Under the agreement, Hengrui grants an exclusive license to CrystalGenomics for the development, regulatory approval and commercialization of Camrelizumab, a PD-1 monoclonal antibody, in South Korea. Hengrui will be entitled to receive a total of up to US$87.75 million in upfront and milestone payments as well as royalties based on the net sales of the licensed product by CrystalGenomics. The Sidley team was led by Technology and IP Transactions partner Thomas Duley (San Francisco) and M&A/Private Equity partner Ruchun Ji (Shanghai and Palo Alto).