12:49 PM EDT, 07/02/2024 (MT Newswires) -- Coherus BioSciences ( CHRS ) signed an exclusive license and distribution deal with Apotex to sell toripalimab in Canada, according to a regulatory filing Tuesday.

Under the agreement, Apotex will pay Coherus $6.25 million upfront and up to 51.5 million Canadian dollars ($37.6 million) if certain milestones are met, Coherus said in the filing.

Apotex will also pay low double-digit percentage royalty on future net sales of toripalimab in Canada, which Coherus would pass on to Shanghai Junshi Biosciences, Coherus said.

In 2021, Junshi granted Coherus the license to co-develop and commercialize toripalimab in the US and Canada, with Coherus having the right to grant sublicenses to third parties in Canada, Coherus said.

Apotex's license will continue until the tenth year after the first commercial sale of toripalimab in Canada, and can be extended for another 10-year term, Coherus said.

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