Development Obligations Under Incyte Agreement

Calithera Biosciences

03/09/2020 21:57

Sept 3 (Reuters) - Calithera Biosciences Inc  CALA.O :
    * CALITHERA BIOSCIENCES - HAVE DECIDED TO OPT OUT OF
CO-DEVELOPMENT OBLIGATIONS AT THIS TIME, AS PERMITTED UNDER THE
TERMS OF INCYTE AGREEMENT
    * CALITHERA BIOSCIENCES - ON AUG 28, DELIVERED WRITTEN
NOTICE TO
INCYTE OF DECISION TO OPT OUT OF CO-DEVELOPMENT RIGHTS UNDER
INCYTE AGREEMENT
    * CALITHERA BIOSCIENCES - DECISION TO OPT OUT OF
CO-DEVELOPMENT
RIGHTS WITH INCYTE WILL BECOME EFFECTIVE ON SEPTEMBER 30
    * CALITHERA BIOSCIENCES - DUE TO DECISION TO OPT OUT, INCYTE
WILL
PAY ALL COSTS TO DEVELOP INCB001158 OR ANY OTHER LICENSED
PRODUCTS
    * CALITHERA BIOSCIENCES - INCYTE TO PAY CO TIERED ROYALTIES
RANGING FROM LOW DOUBLE DIGITS TO MID-TEENS ON NET SALES OF
LICENSED PRODUCTS IN U.S.
    * CALITHERA BIOSCIENCES - INCYTE TO PAY CO TOTAL REMAINING
POTENTIAL DEVELOPMENT, REGULATORY AND COMMERCIALIZATION
MILESTONES OF $738.0 MILLION
    * CALITHERA BIOSCIENCES - WILL HAVE NO FURTHER RIGHTS TO
RESEARCH,
DEVELOP OR CO-DETAIL INCB001158

Source text: (https://bit.ly/2QYCiF7)
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