FluoroPharma Medical, Inc. Enters into Development and Commercialization Agreement with Sinotau USA Inc. for China and Canada
June 06, 2016 at 09:57 am EDT
FluoroPharma Medical, Inc. has entered an exclusive agreement with Sinotau USA Inc. With this agreement, Sinotau will develop and commercialize FluoroPharma's proprietary cardiac imaging assets CardioPET and BFPET in China and Canada. These agents address two different aspects of cardiovascular disease (CVD) with Positron Emission Tomography (PET) imaging. In exchange, FluoroPharma expects to earn significant revenue based on unit sales to Sinotau and royalties based on Sinotau's sales of both imaging agents. In addition to a $550,000 upfront payment to FluoroPharma, up to $1.4 million in development milestone payments have also been established.