Zhejiang CONBA Pharmaceutical Co Ltd SSE:600572:
SAYS SUBSIDIARIES SIGNED LICENSING AGREEMENT WITH ADNEURIS THERAPEUTICS TO OBTAIN GREATER CHINA DEVELOPMENT AND COMMERCIALISATION RIGHTS FOR CEBRANOPADOL
SAYS IT WILL PAY ADNEURIS $17.5 MILLION UPFRONT PAYMENT, UP TO $94 MILLION IN DEVELOPMENT AND COMMERCIAL MILESTONE PAYMENTS AND ROYALTIES ON NET SALES