Samsung Pharmaceutical will manufacture and sell GemVax & KAEL Co. pancreatic cancer vaccine Riavax in South Korea. The vaccine had earlier suffered a Phase III setback.
The license deal for 5 billion won ($4.5 million) covers until 2020, if no notice of termination is extended automatically every year.
Samsung Pharmaceutical will be paid royalties depending on gross sales with specific details of the license agreement for the first-in-class drug to be determined.
- here's the release (in Korean)