Brief: Bone Therapeutics To Regain Worldwide Rights To ALLOB

Biosenic SA

07/10/2022 07:17

Oct 7 (Reuters) - BONE THERAPEUTICS SA  BOTHE.BR :
    * BONE THERAPEUTICS TO REGAIN WORLDWIDE RIGHTS TO ALLOB
    * LINK HEALTH EXPRESSED CONTINUED INTEREST IN ALLOB
    * TO CONTINUE NEGOTIATING RIGHTS FOR ALLOB WITH LINK HEALTH
AND
OTHER PARTNERS
    * UNDER AGREEMENT, BONE THERAPEUTICS WAS ELIGIBLE TO RECEIVE
UP TO
EUR 55 MILLION IN DEVELOPMENT, REGULATORY AND COMMERCIAL
MILESTONE PAYMENTS INCLUDING EUR 10 MILLION IN UPFRONT AND
MILESTONE PAYMENTS ANTICIPATED IN FIRST 24 MONTHS
    * WAS ALSO ENTITLED TO RECEIVE TIERED DOUBLE-DIGIT ROYALTIES
ON
ANNUAL NET SALES OF ALLOB
    * RETAINED DEVELOPMENT AND COMMERCIALIZATION RIGHTS TO ALLOB
IN
ALL OTHER GEOGRAPHIES OUTSIDE OF THOSE COVERED BY THIS AGREEMENT
    * REGAINING ALL DEVELOPMENT MANUFACTURE AND
COMMERCIALIZATION
RIGHTS OF ALLOB FROM PREGENE WILL ALSO ENTITLE BONE THERAPEUTICS
TO NEGOTIATE RIGHTS FOR ALLOB WITH, LINKHEALTH, AND OTHER
PARTNERS
    * UNILATERAL TERMINATION NOTIFIED BY PREGENE WILL TERMINATE
DISCUSSIONS WITH THEM AND REQUIRE FURTHER ANALYSIS FROM BOTH
BONE THERAPEUTICS AND LINK HEALTH
    * BONE THERAPEUTICS AND LINK HEALTH ARE IN ACTIVE
DISCUSSIONS TO
PRECISE TERMS AND SCOPE OF THEIR COLLABORATION
    * PREGENE'S TERMINATION IS, ACCORDING TO PREGENE WRITTEN
COMMUNICATION, "NECESSITATED BY  ALLEGED  REGULATORY REASONS
THAT DUE TO  PURPORTED  INTRODUCTION OF NEW LAWS AND
REGULATIONS, PROJECTS INVOLVING FOREIGN HUMAN CELL AND RELATED
CLINICAL TRIALS WILL BE, PROHIBITED [IN FUTURE] IN MAINLAND
CHINA"
    * PREGENE SHALL TRANSFER DATA TO BONE THERAPEUTICS AND NOT
PARTICIPATE IN ANY FUTURE DEVELOPMENT OR COMMERCIALIZATION
ACTIVITIES FOR PRODUCT

Source text for Eikon:  ID:nGNE10sHNf 
Further company coverage:  BOTHE.BR 
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