The Life Sciences team advised CardioFocus, Inc., on its licensing and distribution agreement with China Grand Pharmaceutical (Grand Pharma). The agreement provides a license to Grand Pharma to seek regulatory approvals and commercialize the HeartLight X3 System in China, Hong Kong and Macau.
CardioFocus is a medical device company dedicated to advancing ablation treatments for atrial fibrillation.The HeartLight X3 System is CardioFocus' catheter ablation technology for controlled and consistent pulmonary vein isolation, the gold standard treatment for atrial fibrillation.
Grand Pharma and Healthcare Holdings Limited (512.HK) is an international pharmaceutical company of technological innovation.
Grand Pharma will pay CardioFocus up to $20 million for the rights to seek regulatory approval and ultimately distribute and manufacture HeartLight X3 in China. CardioFocus will receive $12.5 million of the license fee as an upfront payment and the remainder will be paid upon the achievement of certain milestones.