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BRIEF-Prometic Life Sciences Inc entered into a binding memorandum of terms with Shenzhen Royal Asset Management
March 30, 2017 / 11:26 AM / 6 months ago

BRIEF-Prometic Life Sciences Inc entered into a binding memorandum of terms with Shenzhen Royal Asset Management

March 30 (Reuters) - Prometic Life Sciences Inc:

* Prometic Life Sciences Inc - entered into a binding memorandum of terms with Shenzhen Royal Asset Management to establish a joint venture

* Prometic Life Sciences Inc - prometic to own 75pct of joint venture following SRAM‘S $33 million investment

* Prometic Life Sciences - to establish JV for development, manufacture and commercialization of PBI-4050, PBI-4547 and PBI-4425 in China

* Prometic Life Sciences - SRAM will provide $23 million in 2017, to secure an initial 17pct ownership of prometic chinaco

* Prometic Life Sciences Inc - SRAM will have right to increase ownership in prometic chinaco to up to 25pct with further $10 million investment Source text for Eikon: Further company coverage:

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