Brief: Bioinvent Streamlines Agreement On Anti-Fcγrllb Antibody

BioInvent International AB

11/01/2021 07:16

Jan 11 (Reuters) - BioInvent International AB  BINV.ST :
    * BIOINVENT STREAMLINES AGREEMENT ON ANTI-FCΓRLLB ANTIBODY,
BI-1206, AHEAD OF PHASE I/II DATA
    * HAS RESTRUCTURED A CLINICAL DEVELOPMENT AGREEMENT WITH
CANCER
RESEARCH UK (CRUK), WORLD'S LEADING CANCER CHARITY, FOR ITS
UNIQUE ANTI-FCΓRIIB ANTIBODY, BI-1206
    * IN EXCHANGE FOR A ONE-TIME PAYMENT, REVISED DEAL
SIMPLIFIES AND
REDUCES BIOINVENT'S OBLIGATIONS TO CRUK, WHICH PROVIDES
BIOINVENT WITH MORE FLEXIBILITY TO CARRY OUT DEVELOPMENT AND
PARTNERING ACTIVITIES WITH BI-1206
    * RESTRUCTURED AGREEMENT WITH CRUK RELEASES BIOINVENT FROM
OBLIGATIONS TO PAY DEVELOPMENT OR COMMERCIAL MILESTONES TO CRUK
ON BI-1206 AND REDUCES ROYALTIES DUE ON NET SALES TO LOW SINGLE
DIGIT LEVELS
    * BIOINVENT WILL MAKE A ONE-TIME PAYMENT OF £2.5 MILLION TO
CRUK.
    * EARLY RESULTS FROM PHASE I OPEN LABEL STUDY IN NHL ARE
EXPECTED
IN EARLY 2021.

Source text for Eikon:  ID:nWkr8dmdpq 
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