Under the agreement, Qilu Pharmaceutical obtains exclusive marketing rights to firibastat for the treatment of difficult-to-treat/resistant hypertension in the Geater China region, including Hong Kong and Macao. In addition, Qilu Pharmaceutical plans to participate in the global study on difficult-to-treat/resistant hypertension in China. THINK STRATEGICALLY ABOUT Choice-Of-LAW, FORUM SELECTION, AND ARBITRAGE CLAUSES A cooperation agreement may refer disputes to arbitration proceedings or remain silent on the matter and send disputes to a default court. Parties should think strategically about the option they have in the first place. the best would be of good use. Court proceedings generally allow for greater opportunities for discovery, jury rights and increased appeal rights. Differences in contract law, including the interpretation of what constitutes an “appropriate effort” in drug development, can have a real impact on the likelihood of successful litigation. On the other hand, arbitration proceedings generally provide more speed in dispute resolution, confidentiality, the ability to select decision-makers in the resolution of the dispute and the finality of limited judicial review of the arbitration procedure. Additional considerations arise when the parties are not headquartered in the United States. Arbitration can be an opportunity to significantly limit the amount of discovery that will be required in the event of a dispute.
This can be particularly useful for companies operating outside the U.S. whose employees are less familiar or prepared for the requirements of Discovery procedures in the United States. PARIS and NEW YORK, October 19, 2020 (GLOBE NEWSWIRE) — Quantum Genomics (Euronext Growth – FR0011648971 – ALQGC), a biopharmaceutical company, specializing in the development of a new class of active substances aimed directly at the brain to treat difficult-to-treat/resistant hypertension, it announced today that it has entered into an exclusive licensing and cooperation agreement with Qilu Pharmaceutical to develop and commercialize firibastat in the Greater China, Kong and Macao region. After the first partnership in Asia, this new agreement is the second step in Quantum Genomics` partnership strategy in Asia. Quantum Genomics is a biopharmaceutical company specializing in the development of a new class of cardiovascular drugs based on cardio-cerebral inhibition of aminopeptidase A (AI-F). Quantum Genomics is the only company in the world to explore this innovative approach that directly targets the brain. The company builds on 20 years of scientific research from the University of Paris-Descartes and the Laboratory led by Dr. Catherine Llorens-Cortes at the Collegiate of France (French National Institute of Health and Medical Research (INSERM) / the National Research Science Centre (CNRS). Quantum Genomics` goal is to develop innovative treatments for complex or even resistant cases of high blood pressure (about 30% of patients have poor control over their condition or receive ineffective treatment) and for heart failure (one in two patients with severe heart failure dies in five years). MAKE “REASONABLE EFFORTS” CLAUSES REASONABLE FOR THE DEVELOPMENT PROJECT AT HAND The question of how to measure whether a licensee has made the necessary efforts to develop or market a product under the agreement is one of the most important (and most frequently highlighted) issues related to a licensing agreement. Depending on the jurisdiction, whether the taker agrees to make “reasonable business efforts,” “reasonable efforts,” “best efforts” or another standard for the development or marketing of a product may have a real impact on the likelihood of successful litigation. It also determines whether expertise, specific comparisons with other development projects and/or sector comparisons will be required at a later date to determine whether a licensee`s actions meet such a standard in the event of litigation.