PhytoMedical Technologies, Inc. of Princeton, NJ, has signed a letter of intent with Shanghai Medicilon, a preclinical CRO. Under the terms of the proposed agreement, Medicilon will seek to find a China partner for PhytoMedical’s pre-clinical cancer compound. The price for the China rights to the drug will be payment for the compound’s pre-clinical development, which will be conducted by Medicilon. PhytoMedical and the partner will each be responsible for submitting the IND package to their respective agencies. More details...

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