Gan & Lee Licenses Bofanglutide for Europe to Menarini Group
Gan & Lee Pharmaceuticals has entered into an exclusive license agreement with The Menarini Group for the development and commercialization of its drug candidate Bofanglutide in Europe.
Gan & Lee Pharmaceuticals, a China-based pharmaceutical company, has signed an agreement with multinational biopharmaceutical firm The Menarini Group. The deal grants Menarini exclusive rights for the further development, registration, and commercialization of the drug candidate Bofanglutide across European markets.
Bofanglutide is a novel GLP-1 receptor agonist developed by Gan & Lee, intended for the treatment of type 2 diabetes and obesity. The company has already completed clinical studies in China and has initiated Phase III trials in Europe and the United States.
Financial terms of the agreement have not been disclosed, but Gan & Lee will receive an upfront payment and may be eligible for future milestone payments tied to development and sales. The license covers all European countries along with certain other territories.
Menarini, headquartered in Italy, is a global pharmaceutical company with a portfolio spanning multiple therapeutic areas. Gan & Lee aims to leverage this partnership to expand the global reach of Bofanglutide.