Aslan Pharmaceuticals acquires full commercial rights for ASLAN004 from CSL
Aslan Pharmaceuticals announced that it has amended its license agreement with CSL so that ASLAN has full global rights to develop, manufacture and commercialise ASLAN004 in all indications. The amended agreement replaces the licensing agreement ASLAN and CSL signed in May 2014. Under the terms of the amended agreement, ASLAN will make a first payment of US$30 million to CSL upon commencement of a phase 3 study of ASLAN004. CSL is also eligible to receive up to $95 million of regulatory milestones, $655 million of sales milestones and tiered royalties on net sales between mid-single digits and 10%. Under the terms of the original agreement, ASLAN was responsible for the development of ASLAN004 through to proof-of-concept and the identification of a partner to complete phase 3 development and commercialisation. CSL was eligible to receive between 40% and 50% of all ASLAN004 revenues, including proceeds from out-licensing agreements.