February 7, 2017 / 5:02 PM / 5 months ago

BRIEF-MolMed and TTY sign term sheet to commercialise Zalmoxis in certain Asian territories

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Feb 7 (Reuters) - MolMed SpA:

* MolMed and TTY Biopharm (TTY)sign a term sheet to commercialise Zalmoxis in certain Asian territories

* Within June 30, the terms contained in the agreement shall be incorporated into a definitive contract

* After the signature of the definitive contract, the application of marketing authorization of Zalmoxis in the interested territories will be carried-out by and at cost of TTY

* TTY will eventually perform further clinical studies, if needed to obtain regulatory approval, and will conduct associated regulatory activities after marketing authorization

* MolMed will supply TTY with Zalmoxis and receive upfront and milestone payments up to 13.5 million euros ($14.43 million) and double-digit royalty payments on annual net sales Source text: www.1info.it Further company coverage: ($1 = 0.9353 euros) (Gdynia Newsroom)

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