June 29, 2020 / 6:39 AM / 13 days ago

BRIEF-Oncology Venture Signs Agreement To Out-License Two Pipeline Assets

June 29 (Reuters) - Oncology Venture A/S:

* REG-PRESS RELEASE ONCOLOGY VENTURE SIGNS AGREEMENT TO OUT-LICENSE TWO PIPELINE ASSETS AS PART OF PRIORITIZED PORTFOLIO STRATEGY

* HAS SIGNED A DEFINITIVE AGREEMENT OUT-LICENSING TWO CLINICAL PIPELINE ASSETS, LIPLACIS® AND 2X-111, TO SMERUD MEDICAL RESEARCH INTERNATIONAL FOR FURTHER CLINICAL AND COMMERCIAL DEVELOPMENT

* OV ALSO TERMINATED ITS PRIOR LICENSE AGREEMENT WITH CADILA PHARMACEUTICALS FOR DEVELOPMENT OF LIPLACIS® IN INDIA.

* UNDER TERMS OF AGREEMENT, CO WILL RECEIVE REGULATORY MILESTONE FEES OF NEARLY US $30M PLUS ROYALTIES ON SALES FOR EACH DRUG PAYABLE TO OV IF ALL MILESTONES ARE MET Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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