Anji Pharma Acquires Global Development Rights for ApoE Mimetic Peptides from LipimetiX
LipimetiX Development, Inc.(“LipimetiX”), an approximately 62%-owned subsidiary of Capstone Therapeutics, recently entered into a License Transfer and Royalty Agreement (the “Agreement”) with Anji Pharmaceuticals, Inc (“Anji Pharma”). The Agreement transfers all rights to the technology for AEM-28 and certain of its analogs licensed by LipimetiX under an Exclusive License Agreement (the “License”) with the University of Alabama at Birmingham Research Foundation. Anji Pharma previously sublicensed the same technology for the Territory of China, Hong Kong and Taiwan. This Agreement conveys worldwide rights to the technology to Anji Pharma, which will conduct all development activities and assume all development obligations under the License. In return, LipimetiX will receive upfront cash payments and a royalty on future commercial sales. Any cash and future royalty consideration received will first pay off remaining LipimetiX liabilities, and amounts owed to the Company; and then, as described below, be paid directly to LipimetiX shareholders.
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