FibroGen Out-Licenses Recombinant Human Collagen-Based Biosynthetic Cornea

Eluminex Biosciences (Suzhou) Limited has exclusively licensed global rights to develop and commercialize a biosynthetic cornea from FibroGen Inc FGEN.
The biosynthetic cornea is derived from recombinant human collagen Type III and is intended to treat patients with corneal blindness.
Under the terms of the agreement, Eluminex will make an $8 million upfront payment to FibroGen.
In addition, FibroGen may receive up to $100 million in milestone payments. It is also eligible to receive royalties based upon worldwide net sales.
The Eluminex biosynthetic cornea (EB-301) is a clinical-stage corneal stromal substitute that will be initially developed for the China market.
Price Action: FGEN shares are down 1.74% at $14.10 during the premarket session on the last check Monday.