[ET Net News Agency, 11 October 2019] China Grand Pharmaceutical and Healthcare
Holdings Limited (00512) said Grand Decade, a direct wholly-owned subsidiary of the
company, entered into an agreement with OncoSec, pursuant to which Grand Decade
conditionally agreed to purchase 10 million OncoSec shares, representing approximately
44.2% of the share capital of OncoSec to be enlarged by the CGP Stock Purchase and Sirtex
Stock Purchase, for US$25 million in cash.
Grand Decade also entered into the an agreement with OncoSec, pursuant to which OncoSec
shall grant to Grand Decade and its affiliates, with effect from the effective date, an
exclusive, royalty-bearing license in the PRC and 38 other Asian countries and regions
under the intellectual properties and know-how owned by or licensed to OncoSec to develop,
manufacture, or commercialise or otherwise exploit all drugs and devices and all
biological products that have been or are being developed, manufactured, or
commercialised, or otherwise exploited at any time by or on behalf of OncoSec, in any and
all fields in or for the licensed territories.
OncoSec is a company incorporated in Nevada of the United States and listed on Nasdaq.
It is a clinical-stage biotechnology company focused on developing cytokine-based
intratumoral immunotherapies with new technologies to stimulate the body's immune system
to target and attack cancer. (RC)