Amphastar enters $0.5M amendment with related party Hanxin for insulin R&D scale-up

Amphastar Pharmaceuticals, Inc.

Amendment to Contract Research Agreement dated July 5, 2022 with Nanjing Hanxin Pharmaceutical Technology Co., Ltd.
Hanxin will perform scale-up manufacturing process development using Recombinant Human Insulin Research Cell Banks (RCBs).
Total cost not to exceed approximately $0.5 million; payments in Chinese yuan adjusted for exchange rates.
Related party transaction: CEO Jack Zhang and Chairman Mary Luo beneficially own majority of Hanxin; Audit Committee approved.
Agreement term matches original contract, currently through July 5, 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Amphastar Pharmaceuticals, Inc. amended Contract Research Agreement with Nanjing Hanxin Pharmaceutical Technology Co., Ltd. valued at not exceed approximately $0.5 million (effective 2023-03-08).

Action: amendment
Agreement: license
Counterparty: Nanjing Hanxin Pharmaceutical Technology Co., Ltd.
Value: not exceed approximately $0.5 million
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023, Amphastar Pharmaceuticals, Inc. (together with its subsidiaries, the “Company”) and Nanjing Hanxin Pharmaceutical Technology Co., Ltd. (“Hanxin”) entered into an Amendment to that certain Contract Research Agreement by and between the Company and Hanxin, dated July 5, 2022 (the “Amendment”).

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Source: SEC EDGAR

accession 0001297184-23-000026

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