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Allegro, Hanmi enter license agreement for Luminate in Korea, China

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Allegro Ophthalmics and Hanmi Pharmaceutical have entered into a license agreement for Luminate in the Republic of Korea and the People’s Republic of China, according to a press release from Allegro.

Under the license agreement, Hanmi will pay Allegro upfront licensing fees, sales milestone payments and running royalties as a percentage of net sales. Hanmi will also make a $20 million strategic investment in Allegro, the release said.

Luminate (ALG-1001) is an integrin peptide therapy currently in multiple phase 2 studies in the U.S. for the treatment of vitreoretinal conditions.