Ion Beam Applications (IBA) has signed a strategic licensing deal with CGN Nuclear Technology Development (CGNNT) and its subsidiary CGN Dasheng for the exclusive rights to its Proteus PLUS technology in China.
The overall minimum deal value to IBA is over €100m with the first payment of €20m due in the coming days and rest of the payment milestones foreseen over the next four years. This is in addition to the annual royalty revenues on future sales by CGN Dasheng.
Proteus PLUS is a made-to-measure, image-guided, intensity-modulated, proton beam technology. It enables a proton therapy centre to treat more patients, suffering from a wide range of complex cancer conditions.
As part of the agreement, IBA will provide exclusive rights for the use of its Proteus PLUS technology to CGNNT and CGN Dasheng in the People’s Republic of China (PRC), excluding Hong Kong, Taiwan and Macau area.
However, the company will maintain the right to enter directly into sales of up to five Proteus PLUS contracts that are currently under negotiations in the PRC.
IBA CEO Olivier Legrain said: “China represents a market of high strategic importance to IBA. We are excited to have agreed such a significant, long-term collaboration with a major Chinese company, which will enable IBA to further strengthen its leading position in the region.
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“We are looking forward to working with CGNNT in China and are confident that this partnership will help to improve the standard of cancer care in the region, further enhance support to our clients in China and bring new opportunities to our employees as the installed base grows.”
IBA will provide assistance and training for CGN Dasheng’s workforce in the development, production, operation and maintenance of the Proteus PLUS technology.
The company will also collaborate with CGN Dasheng to advance the proton therapy offering, marketing, sales, sourcing and clinical information in the PRC.
Commenting on the development, CGNNT general manager Dongming Hu said: “We have long been impressed by the excellence of IBA’s proton therapy technology and its commitment to improving cancer care for patients.
“Proton therapy is an increasingly important modality in the treatment of cancer patients in China and this collaboration is integral to ensuring that we enable many more Chinese patients to gain access to this cutting-edge, life-saving treatment.”