For $30M, Chi­nese bio­phar­ma Sim­cere picks up re­gion­al rights to Idor­sia’s in­som­nia drug

For a mod­est up­front of $30 mil­lion, Sim­cere is buy­ing re­gion­al rights for dari­dorex­ant, Idor­sia’s in­som­nia drug that’s mar­ket­ed as Qu­viviq in the US and Eu­rope. Sim­cere will get the rights in Chi­na, Hong Kong and Macau.

In ad­di­tion, Idor­sia will get an­oth­er $20 mil­lion if the Chi­nese reg­u­la­to­ry agency ap­proves the drug, fol­lowed by pay­ments in “low dou­ble-dig­it” tiered roy­al­ties and oth­er com­mer­cial mile­stones.

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