- Eluminex Biosciences (Suzhou) Limited has exclusively licensed global rights to develop and commercialize a biosynthetic cornea from FibroGen Inc (NASDAQ:FGEN).
- The biosynthetic cornea is derived from recombinant human collagen Type III and is intended to treat patients with corneal blindness.
- Under the terms of the agreement, Eluminex will make an $8 million upfront payment to FibroGen.
- In addition, FibroGen may receive up to $100 million in milestone payments. It is also eligible to receive royalties based upon worldwide net sales.
- The Eluminex biosynthetic cornea (EB-301) is a clinical-stage corneal stromal substitute that will be initially developed for the China market.
- Price Action: FGEN shares are down 1.74% at $14.10 during the premarket session on the last check Monday.
Apple Shines At Oscars, Elon Musk Could Be Launching Social Media, Joe Biden’s Billionaire Tax And More: 5 Key Headlines You May Have Missed From This Weekend
Heading into a new trading week, here is a quick roundup of the top five stories from the corporate, economic and cryptocurrency sectors that investors would not want to miss out on from the weekend.
