Humanigen, Inc. announced the execution of its first licensing transaction in the Asia-Pacific Region with Telcon RF Pharmaceutical, Inc. and KPM Tech Co., Ltd. for development and commercialization rights to lenzilumab for COVID-19 for South Korea and the Philippines. The licensing agreement includes payments of up to USD 20 million with USD 6 million as an upfront payment upon execution of the licensing agreement and the balance of USD 14 million in two payments based on achievement by Humanigen of specified milestones in the US. Telcon and KPM Tech will be responsible for gaining regulatory approval and subsequent commercialization of lenzilumab in its territories.

Humanigen will earn double-digit royalties following receipt of those approvals on net sales subsequent to commercialization. The number of COVID-19 cases in South Korea and the Philippines is more than 412,000.