Is something up?, page-39

Take a read of the announcement made to the (ASX) market on 25th June 2015. I've copied it below.

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Patrys to License Chinese Rights for PAT-SC1
Melbourne, Australia; 25 June, 2015: Patrys Limited (ASX: PAB), a clinical stage biotechnology company is pleased to advise that it has entered into a binding termsheet with Hefei Co-source Biomedical Co. LTD (Hefei Co-source), a Chinese based company which is part of the Hefei Co-source Medicine Group focussed on integrated drug development. The termsheet covers the exclusive development and commercialisation rights for all oncology indications in China for PAT-SC1, one of Patrys’ anti-cancer IgM antibody therapeutic candidates. Patrys and Hefei Co-source are moving towards finalising formal documents for this agreement, which should be executed during the third quarter of 2015. Patrys will receive an upfront payment at that time and retains the right to develop and commercialise PAT-SC1 outside of China.
In 2009 Patrys acquired the exclusive rights to commercialise PAT-SC1 from Debiovision Inc., a member of the global drug development Debiopharm Group. PAT-SC1 was the first of Patrys’ IgM antibodies to be trialled clinically. Between 1997 and 2001, 51 patients with CD55-positive gastric cancer were treated with a single intravenous low dose of PAT-SC1 48 hours prior to gastrectomy. Of those 51 patients treated, 35 of them had no evidence of metastatic disease at operation and were classified as having R0 stage disease. Patients did not receive any additional treatment (radiotherapy or chemotherapy).
Survival of these patients has been followed over time and compared to a control group of patients with R0 stage gastric cancer who did not receive PAT-SC1 before surgery. Ten year follow-up data was published in Oncology Reports last year on 30 of the PAT-SC1 treated patients. Fifty-five percent of these patients are still alive whilst only thirty percent of the control group have survived, indicating that the treatment of gastric cancer patients with PAT-SC1 confers a significant survival benefit.
"We are very excited to be working with Hefei Co-source, one of China’s emerging R&D commercialisation companies, to develop PAT-SC1 as an IgM therapeutic for the Chinese gastric cancer market," said Dr. James Campbell, Patrys’ Chief Executive Officer. "China has one of the highest incidences of gastric cancer globally, accounting for over 40% of all new gastric cancer cases in the world. We believe that Hefei Co-source is very well credentialed, and highly motivated to progress development of PAT-SC1 for the Chinese market."
"I would like to acknowledge the significant efforts of our scientific and corporate teams to realise this deal and know that the teams will strengthen our Hefei Co-source collaboration through technology transfer and ongoing support. This is the first collaboration and out-licensing agreement for Patrys and we look forward to keeping shareholders updated on developments" added Dr. Campbell. 2
Hefei Co-sources’ Chief Executive Officer, Dr. Shanchun Zhang, added: "We are pleased to be collaborating with Patrys and we look forward to reporting on the development of PAT-SC1 in China. Hefei plans to provide up to RMB 30 million to support future PAT-SC1 development in China."
The financial and other key terms of the deal are confidential, but are on par for similar transactions of this type in this territory, including potential back-loaded payments, sharing of revenue and double digit royalties on end sales.