Recently, the website of the Beijing Intellectual Property Bureau published the "Announcement of Review Results for Beijing Patent Commercialization Projects in 2015." NORTHLAND's "Technology Transfer of Recombinant Human Thymosin β4" was successfully selected as an outstanding patent commercialization project for 2015 and has completed the procedures for receiving the project funding.

The selection process for patent commercialization funding projects is conducted by the Beijing Municipal Intellectual Property Office and other relevant departments in accordance with the "Beijing Measures for Promoting Patent Commercialization" (Beijing Intellectual Property Office [2010] No. 73). For patent rights transfers and patent licensing arrangements that meet the eligibility criteria, after being submitted by the applicant organizations, the managing agency will organize experts to evaluate the applications according to established review procedures and determine which projects will receive funding. In 2015, a total of 12 outstanding projects were selected for Beijing’s patent commercialization funding. In August 2015, NORTHLAND signed a technology transfer contract with South Korea’s Huons Company for “Recombinant Human Thymosin β4 Technology.” As a result, NORTHLAND successfully commercialized its new drug project—“Recombinant Human Thymosin β4”—which boasts independent intellectual property rights. The total value of the technology contract reached US$4.5 million, and the company will also receive sales-based royalties following product launch. Furthermore, both parties to the contract will jointly advance the project’s R&D and clinical trials in both China and South Korea and share the resulting R&D outcomes. This project fully meets the eligibility criteria for Beijing’s patent commercialization funding program. The funding received this time will be used for maintaining the project’s patents and for further R&D investment to propel the project forward.

For details of the public notice, please refer to “Public Notice of Review Results for Beijing Patent Commercialization Projects in 2015.”

http://www.bjipo.gov.cn/zwxx/zwgg/201511/t20151123_34640.html