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BRIEF-Neovacs and Biosense sign option agreement worth up to €65 million plus royalties
February 21, 2017 / 1:35 PM / 5 months ago

BRIEF-Neovacs and Biosense sign option agreement worth up to €65 million plus royalties

2 Min Read

Feb 21 (Reuters) - Neovacs SA

* Neovacs and Biosense sign option agreement worth up to €65 million plus royalties for Chinese development and commercial rights to ifnα kinoid for lupus and dermatomyositis

* Neovacs SA - Neovacs receives an upfront fee and is eligible for additional milestone payments and double-digit sales royalties

* Neovacs SA - Biosense receives option for development, commercial rights to ifnα kinoid for lupus and dermatomyositis in China, other selected territories

* Neovacs SA - upon completion of Neovacs' ongoing Phase IIB trial for ifnα kinoid in lupus biosense will receive commercial rights for ifnα kinoid

* Neovacs SA - Biosense will fund a Phase III clinical trial for ifnα kinoid in China

* Neovacs SA - Biosense will bear all costs associated with these development and regulatory-related initiatives

* Neovacs SA - Biosense receives first right of refusal in agreed upon asian markets for any further ifnα kinoid indications, including type 1 diabetes

* Neovacs SA - additional terms were not disclosed Source text for Eikon: Further company coverage:

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