Brief: Cue Biopharma Enters Into A Strategic Collaboration With Ono Pharmaceutical For Cue-401

Cue Biopharma

22/02/2023 13:23

Feb 22 (Reuters) - Cue Biopharma Inc  CUE.O :
    * CUE BIOPHARMA ENTERS INTO A STRATEGIC COLLABORATION AND
OPTION
AGREEMENT WITH ONO PHARMACEUTICAL FOR CUE-401
    * ONO WILL PAY CO UPFRONT PAYMENT AND FULLY FUND ALL
RESEARCH
ACTIVITIES RELATED TO CUE-401 THROUGH A SPECIFIED OPTION PERIOD
    * DURING OPTION PERIOD CUE BIOPHARMA WILL BE RESPONSIBLE FOR
RESEARCH AND DEVELOPMENT OF CUE-401
    * UPON ONO'S EXERCISE OF OPTION TO LICENSE CUE-401, CO WILL
GET
OPTION EXERCISE PAYMENT
    * CUE BIOPHARMA-UPON ONO'S EXERCISE OF OPTION TO LICENSE
CUE-401,
CO TO BE ELIGIBLE FOR DEVELOPMENT, COMMERCIAL MILESTONE PAYMENTS
UP TO ABOUT $220 MILLION
    * UPON ONO'S EXERCISE OF OPTION TO LICENSE CUE-401, CO TO BE
ELIGIBLE FOR TIERED ROYALTIES ON SALES
    * UPON ANY SUCH EXERCISE, ONO WILL RECEIVE WORLDWIDE RIGHTS
TO
DEVELOP AND COMMERCIALIZE CUE-401
    * UPON ANY SUCH EXERCISE, CUE BIOPHARMA WILL RETAIN A 50%
CO-DEVELOPMENT AND CO-COMMERCIALIZATION RIGHT IN U.S. FOR
CUE-401

Source text for Eikon:  ID:nGNX8TjKrH 
Further company coverage:  CUE.O