Nabriva Therapeutics Receives $5M Payment Under License Agreement with Sinovant Sciences

Nabriva Therapeutics (NASDAQ:NBRV) has announced that it has received a US$5 million payment under its license agreement with Sinovant Sciences in relation to approval of XENLETA.

As quoted in the press release:

Sinovant Sciences has an exclusive license to develop and commercialize lefamulin (SNV001) in the Greater China region. Sinovant Science’s application to conduct a clinical trial of lefamulin (SNV001) in China has been approved by China’s National Medical Products Administration, and the trial is expected to be initiated in the fourth quarter of 2019.

Under its license agreement with Sinovant Sciences, Nabriva is eligible for up to approximately $85 million in additional milestone payments tied to the successful completion of certain regulatory and commercial milestones related to lefamulin for community-acquired bacterial pneumonia (CABP). In addition, Nabriva will be eligible to receive low double-digit royalties on sales, if any, in the Greater China region.

Click here to read the full press release.