Bankrupt Achaogen Sells China Assets to Xuanzhu for $4.5 Million

Achaogen Inc., the bankrupt biotech developer of antibiotic Zemdri, has agreed to sell its China assets for $4.5 million to a Hong Kong buyer after a licensing deal fell apart.

In the deal, Hong Kong-based Xuanzhu (HK) Biopharmaceutical Ltd. will acquire all intellectual property and technical rights for Achaogen’s China-based business in Plazomicin Sulfate, the active pharmaceutical ingredient in Zemdri, Leslie Boyd, Jr., chief business officer of Xuanzhu, said in a court filing Dec. 29.

The sale would include the all uses and synthesis of the product within Mainland China, Hong Kong, Macau, and Taiwan, Boyd said.

Achaogen and Xuanzhu ...