Gan Li Pharmaceutical: Signed a licensing agreement for Bofatnib with Menarini, with an upfront payment of 62 million euros.

Gan Li Pharmaceutical announced that the company recently reached an exclusive licensing agreement with Menarini, granting Menarini the rights for the market registration and commercialization of Bofaglutide for the indication of overweight or obesity in 39 European countries and regions, including 27 EU member states and the UK. Menarini will pay a non-refundable upfront payment of 62 million, milestone payments of up to a total of 664 million, and a tiered royalty payment at a highest double-digit rate.