TTY Biopharm announced yesterday (16th) that it has achieved a significant milestone in its collaboration with an international pharmaceutical giant for the development of a liposomal product. The company received a milestone payment of USD 150,000 (approximately NTD 488.9 million) for its progress in the European market. TTY Biopharm expects this payment to be recorded in its accounts in July this year.

The company stated that it reached this milestone by completing the clinical batch supply of the "Amphotericin B" liposomal product for the European market, entitling TTY Biopharm to the USD 150,000 milestone payment as per the agreement.

In June of last year, TTY Biopharm announced the signing of a co-development agreement with an international pharmaceutical giant for the Lipo-AB product in the European market. The agreement included a signing bonus of USD 250,000, with milestone payments to be made in three stages based on development progress, amounting to USD 150,000, USD 200,000, and USD 300,000, respectively. The agreement also includes profit-sharing once the product is launched. This recent payment represents the first milestone achievement under the agreement.

TTY Biopharm's CEO, Jing-Lan Hou, stated earlier this year that the company is focusing on international expansion, with one of its major strategies being the export of complex generic drugs. Last year, TTY Biopharm successfully exported its Lipo-AB product to the United States, achieving impressive sales.

Resource (mandarin): 東洋強攻歐洲報捷