HONG KONG – Clinical-stage biotech firm Athenex Inc. out-licensed to Chongqing Jingdong Junzhuo Pharmaceutical Co. Ltd. the rights to commercialize an ointment known as KX2-391 for treating actinic keratosis and oncology indications in China. Under the terms, Athenex will receive an up-front payment of $14.5 million and up to $15 million for development milestones. The company is also entitled to tiered royalties based on annual net sales starting at 15 percent, and with incremental increases of royalties with growing sales.