UK's Roquefort Therapeutics gains on licence deal with Randox Labs

Coiled Therapeutics

20/02/2023 09:24

** Shares of biotech company Roquefort Therapeutics  ROQ.L 
rises 3.7% to 7p
    ** ROQ signs licence and royalty agreement with UK-based
diagnostic company, Randox Laboratories for its Midkine antibody
portfolio
    ** Co says commercial terms of this licensing agreement
weren't disclosed, but estimates transaction value of the deal
in excess of 5 mln pounds ($6.03 mln)
    ** Agreement to focus on medical diagnostics to detect
cancers that express Midkine, a heparin-binding protein that is
highly expressed in cancer
    ** Co has granted worldwide 10-yr licence (excluding Japan)
to utilise its Midkine antibodies
    ** Co and Randox to also engage in collaborative research
programs to identify new cancer diagnostics that can be treated
with ROQ's midkine therapeutics
    ** Including session's gains, stock has risen ~2% YTD
($1 = 0.8298 pounds)
 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))