NEW YORK – Sept. 12, 2023 – Greenberg Traurig, LLP represented Huadong Medicine Co., a Chinese publicly traded pharmaceutical company, in negotiating two strategic licensing agreements to develop and commercialize market-leading medications in Greater China and Southeast Asia.
Most recently, the firm advised Hangzhou Zhongmei Huadong Pharmaceutical, a subsidiary of Huadong Medicine, in negotiating a licensing agreement with MC2 Therapeutics to develop and market MC2’s Wynzora cream for treating plaque psoriasis in adults in Greater China.
Copenhagen-based MC2 will receive $16 million in upfront and regulatory milestone payments and is eligible to receive an additional approximately $36 million plus royalties if the Huadong unit achieves certain sales milestones. The licensing agreement covers the territory of mainland China, Hong Kong, Macau, and Taiwan.
In late June, Greenberg Traurig attorneys advised Huadong in negotiating a licensing agreement with Arcutis Biotherapeutic for the development, manufacture, and commercialization of topical roflumilast in Greater China and Southeast Asia. Topical roflumilast is used for multiple dermatological conditions including plaque psoriasis, seborrheic dermatitis, atopic dermatitis, and potentially additional dermatological conditions in the future.
The region covered by the licensing agreement includes mainland China, Hong Kong, Macau, Taiwan, Indonesia, Singapore, The Philippines, Thailand, Myanmar, Brunei, Cambodia, Laos, Malaysia, and Vietnam. In a release issued Arcutis, the company will receive an upfront payment of $30 million, and an additional $64.25 million if certain regulatory and sales milestones are achieved by Huadong Medicine. Arcutis is also eligible to receive tiered double-digit royalties.
The Greenberg Traurig team representing Huadong in both transactions was led by Atlanta Corporate Shareholder Wayne H. Elowe, co-chair of the firm’s global Life Sciences and Medical Technology Group and co-chair of the Corporate Practice in Atlanta, and Atlanta Corporate Associate William H. Grossenbacher III.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2650 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 5.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.