Date: 2015-01-06
Type of information: Licensing agreement
Compound: virus like particle (VLP) platform
Company: Cytos Biotechnology (Switzerland) OnCore Biopharma
Therapeutic area: Infectious diseases
Type agreement: licensing
Action mechanism:
Disease: hepatitis B
Details: * On January 6, 2015, Cytos Biotechnology announced that it executed an exclusive license agreement granting OnCore Biopharma, access to Cytos’ clinically validated virus like particle (VLP) platform for the use in the treatment and prevention of hepatitis B viral infections. Cytos also granted an option for the treatment of additional viral diseases other than influenza. The agreement will become effective with the achievement of certain closing conditions, including a successful debt restructuring of Cytos.
Financial terms: For the first product in each of six possible product categories in the field of Hepatitis B that may be developed under the agreement, Cytos may receive up to $ 67 million in development milestones, or a maximum of $ 402 million if one product in each product category is developed. In addition, Cytos is eligible to receive commercial milestone payments of up to $ 120 million upon achievement of certain sales levels, and up to double-digit royalties on net sales from any successfully developed product.
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