Celsion Corp. and Zhejiang Hisun Pharmaceutical Co. Ltd. announced that they have entered into a technology development agreement for ThermoDox(R) for the greater China territory.

Under the terms of the agreement, Hisun will pay $5 million to Celsion immediately, while Celsion will provide Hisun with support for its ThermoDox(R) manufacturing development program. This payment is non-refundable and comes in advance of Celsion's expected reporting of results from its pivotal Phase III trial (the HEAT Study) in hepatocellular carcinoma (HCC), also known as primary liver cancer later this month.