AsK Pharm's subsidiary inks license deal with Visara for ASKG712, potentially worth $96M

On October 17, Jiangsu Aosaikang Pharmaceutical Co., Ltd. ("AsK Pharm", 002755.SZ) announced via an early-morning disclosure that its subsidiary, AskGene Pharma, has entered into a licensing agreement with Visara.

The agreement grants Visara the rights to ASKG712, a Class 1 innovative drug wholly owned by AskGene Pharma, within the licensed territory. ASKG712 is clinically intended for the treatment of ocular fundus macular diseases and is currently in Phase IIa clinical trials in China.

Under the terms of the agreement, the licensed territory includes Greater China, Singapore, Thailand, Malaysia, Indonesia, Vietnam, South Korea, and India. Visara will receive exclusive rights to develop, manufacture, and commercialize ASKG712 in this region.

AskGene Pharma will receive an upfront payment of US$7 million from Visara and is eligible for additional milestone payments tied to development, regulatory approval, and commercialization, which could total up to US$89 million. Furthermore, AskGene Pharma is entitled to receive tiered royalties based on the annual net sales of the product in the licensed territory.