IBA Strikes Licensing Deal in China for Proteus Plus

By News Release

 

IBA (Ion Beam Applications), a provider of proton therapy solutions for the treatment of cancer,  has signed a strategic licensing deal with CGN Nuclear Technology Development Co., Ltd. (“CGNNT”) which is listed on the Shenzhen Stock Exchange, and its wholly-owned subsidiary CGN Dasheng Electron Accelerator Technology Co., Ltd (“CGN Dasheng”), for the exclusive rights to IBA’s Proteus®PLUS* technology in China.

The overall minimum deal value to IBA is more than EUR 100 million. The first payment of EUR 20 million is due in the coming days with the following payment milestones foreseen over the next four years. In addition to this amount, the contract foresees an important stream of annual royalty revenues on future sales by CGN Dasheng. As part of the agreement, IBA will grant exclusive rights for the use of its Proteus®PLUS technology to CGNNT and CGN Dasheng solely in the People’s Republic of China (PRC) excluding Hong Kong, Taiwan and Macau area. IBA however maintains the right to enter directly into sales of up to 5 Proteus®PLUS contracts currently under negotiation in the PRC. The deal value includes a licensing fee, technology support, the sale of sub-systems for a Proteus®PLUS solution and installation support.

IBA will be responsible for assisting and training CGN Dasheng’s workforce in the development, production, operation and maintenance of the Proteus®PLUS technology. IBA and CGN Dasheng will work together to enhance the proton therapy offering, marketing, sales, sourcing and clinical information in the PRC.

Proton Therapy in China is set to expand strongly over the next few years as the Chinese government announced a few weeks ago that it is expanding the number of proton therapy licenses from 10 to 16 this year. The partnership between IBA and CGNNT will bring together the world’s leading proton therapy technology and strong production capacities in China, further supporting our leading position in this proton therapy market. In addition, IBA and CGNNT will explore possibilities for cooperating in IBA’s other business lines in the future.

Olivier Legrain, Chief Executive Officer of IBA, commented: “China represents a market of high strategic importance to IBA. We are excited to have agreed such a significant, long-term collaboration with a major Chinese company, which will enable IBA to further strengthen its leading position in the region. The recent announcement that the Chinese Government will be increasing the number of PT licenses for 2020 and beyond will further strengthen this position. The scale of the deal with CGNNT is testament to the quality of our market-leading proton therapy system. We are looking forward to working with CGNNT in China and are confident that this partnership will help to improve the standard of cancer care in the region, further enhance support to our clients in China and bring new opportunities to our employees as the installed base grows.”

Dongming Hu, General Manager of CGNNT, commented:“We have long been impressed by the excellence of IBA’s proton therapy technology and its commitment to improving cancer care for patients. Proton therapy is an increasingly important modality in the treatment of cancer patients in China and this collaboration is integral to ensuring that we enable many more Chinese patients to gain access to this cutting-edge, life-saving treatment.”

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IBA Strikes Licensing Deal in China for Proteus Plus.  Appl Rad Oncol. 

By News Release| August 26, 2020
Categories:  Technologies|Section

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