Arcutis Biotherapeutics signs license deal with Huadong for ZORYVE in Asia, receiving $30M upfront

Arcutis Biotherapeutics, Inc.

Arcutis grants exclusive license to Huadong for ZORYVE cream and ARQ-154 foam in Greater China and Southeast Asia.
Huadong pays $30 million upfront, with potential $24 million in development/regulatory milestones and $40.25 million in sales milestones.
Arcutis receives low double-digit to high-teen double-digit royalties on net sales during the royalty term.
Huadong is responsible for development, regulatory approval, and commercialization at its own expense.
The agreement covers dermatological indications and includes termination provisions for breach, insolvency, or IP challenges.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Arcutis Biotherapeutics, Inc. entered into License Agreement with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. valued at upfront payment of $30 million; potential development and regulatory milestone payments up to $24 mi (effective 2023-08-10).

Action: entry
Agreement: license
Counterparty: Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd.
Value: upfront payment of $30 million; potential development and regulatory milestone payments up to $24 mi
Effective: 2023-08-10

Exact text from the filing

On August 10, 2023, Arcutis Biotherapeutics, Inc. ("Arcutis" or the "Company") entered into a License Agreement (the "License Agreement") with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. ("Huadong"), a wholly owned subsidiary of Huadong Medicine Co., Ltd.

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Source: SEC EDGAR

accession 0001787306-23-000079

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