Avion and ImmuPharma will co-develop Lupuzor, including a new Phase III trail, and Avion will commercialise the drug exclusively in the United States, ImmuPharma said.
The British company said it would receive milestone payments of up to $70 million, comprising $5 million upon regulatory approval and up to $65 million based on sales targets.
(Reporting by Paul Sandle; editing by Kate Holton)