The termination, effective June 11, stems from Launxp’s failure to settle its outstanding upfront balance and associated interest. While Apollomics has moved to reclaim its rights, the situation remains legally fraught. Following Launxp’s public contestation of the breach, the companies entered a formal dispute resolution process on June 18. This mechanism mandates a 30-day internal negotiation period before potential escalation to executive leadership.
In section Market Quotes
Apollomics Scraps Asia Licensing Deal Over $3.8 Million Payment Gap
A $3.8 million payment default has triggered the collapse of a key partnership for Apollomics, forcing the biopharmaceutical firm to terminate its licensing deal with Launxp International. The move effectively restores the company’s full global control over its lead clinical asset, vebreltinib, outside of mainland China and Macau.
Simultaneously, Apollomics faces separate financial scrutiny on the public markets. Nasdaq officials recently notified the company that it has fallen below the $35 million minimum market value threshold required for continued listing. The firm now has until December 15 to rectify this valuation deficit and restore compliance with exchange rules.
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