Published on July 30, 2011 at 12:56 AM
RaQualia Pharma Inc. (RaQualia)(JASDAQ:4579)(ISIN:JP3967150008) today announced the signing of a license agreement with CJ CheilJedang Co. (CJ), granting CJ exclusive rights to develop, manufacture and commercialize RaQualia's 5-HT4 Partial Agonist (RQ-00000010) in Korea, China, Taiwan, India and Southeast Asia.
Under the terms of the agreement, RaQualia will receive an upfront payment from CJ and is eligible to receive development milestones and royalties on sales of products commercialized under the license.
RaQualia and CJ signed a Memorandum of Understanding in June 2010 to establish a strategic alliance in innovative gastrointestinal therapies. This is the 2nd license agreement between RaQualia and CJ following the license agreement for Acid Pump Antagonist (RQ-00000004) in September 2010.
Source: RaQualia