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Fosun Acquires China Rights to HCC Diagnostic with $10 Million Glycotest Investment

publication date: Oct 23, 2018

Shanghai Fosun Pharma will invest $10 million into Glycotest, a New York City company that is developing non-invasive diagnostic tests for early stage hepatocellular carcinoma (HCC), liver fibrosis and cholangiocarcinoma (bile duct cancer). Fosun will own 40% of Glycotest after it completes its investment and will have rights to market Glycotest's HCC panel in China, paying a royalty. Fosun will make an upfront payment of $3 million and milestone payments for the remaining $7 million. More details....

Stock Symbols: (HK: 02196; SHA: 600196)

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