BEIJING, Nov. 29 (Xinhua) -- Shenzhen Salubris Pharmaceuticals Co., Ltd. (002294.SZ) announced on Thursday that it plans to sign an agreement with the U.S. Viracta Therapeutics, Inc. to gain the exclusive license to use the US company's "nanatinostat" in the Chinese mainland, in an effort to enrich its products in the anti-tumor field.
It will pay up to 58 million U.S. dollars for the deal, said the Shenzhen-listed company.
At the same time, the listed company's wholly-owned subsidiary, Splendris International Limited plans to subscribe for a total of 11,936,023 shares of Viracta's newly issued C-round preferred shares in a phased manner, with the self-raised funds of 10 million U.S. dollars.
Upon completion of the subscription, Splendris International Limited will hold a 15.25-percent stake in the Viracta. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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