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Sidley says it advised Jiangsu Nhwa on its licensing agreement with Somnivera
Sidley said it represented Jiangsu Nhwa Pharmaceutical in an agreement granting Somnivera rights outside China to a clinical-stage sleep disorder drug. The firm said the agreement provides for a $10.5 million upfront payment and up to $507 million in milestone payments, alongside additional economic interests.
Key points
- Sidley said Jiangsu Nhwa is also eligible for royalties and a share of sublicense consideration.Sidley
- The firm said Jiangsu Nhwa will receive a 15% equity stake in Somnivera.Sidley
- Sidley said ARCH Venture Partners, Population Health Partners and F-Prime Capital formed Somnivera.Sidley
- The firm identified Lila Hope and Steve Przesmicki as its team leaders.Sidley