Frontier Medicines Corporation granted LG Chem, Ltd. an exclusive worldwide license to develop and commercialize FMC-220 outside of Greater China, with Frontier retaining ownership and full control in Greater China. LG Chem will receive worldwide rights to FMC-220 outside of Greater China; Frontier will retain full ownership within Greater China. Frontier will receive an upfront payment from LG Chem and is eligible to receive potential development, regulatory, commercial, sales milestones and royalties on net product sales.
LG Chem will be responsible for regulatory filings, global clinical development, and commercialization in the licensed territories, and Frontier retains an option for enhanced financial participation through partial funding of the confirmatory clinical trial. Frontier will receive an upfront payment and is eligible to receive additional clinical, regulatory, and commercial milestone payments, and mid-single-digit to double-digit royalties on net sales.
