Brief: Gri Bio Enters Into Asset Purchase Agreement With Aardvark Therapeutics, Inc. For The Sale Of Legacy Asset, Adair

GRI Bio

23/08/2023 14:04

Aug 23 (Reuters) - 
  
    * GRI BIO ENTERS INTO ASSET PURCHASE AGREEMENT WITH AARDVARK
THERAPEUTICS, INC. FOR THE SALE OF LEGACY ASSET, ADAIR
    * GRI BIO INC - GRI TO RECEIVE MODEST UPFRONT PAYMENT AND
POTENTIAL TO EARN DEVELOPMENT AND COMMERCIAL MILESTONES UP TO
APPROXIMATELY $80 MILLION
    * GRI BIO INC - AARDVARK INTENDS TO UTILIZE ADAIR FORMATION
TECHNOLOGY FOR DEVELOPMENT OF CERTAIN FOLLOW-ON PIPELINE
PROGRAMS
    * GRI BIO INC - UNDER TERMS OF AGREEMENT, AARDVARK WILL
ASSUME
RESPONSIBILITY FOR AND ENDEAVOR TO DEVELOP AND COMMERCIALIZE
PURCHASED ASSETS

Source text for Eikon:  ID:nGNX81pJ8p 
Further company coverage:  GRI.O 

 ((reuters.briefs@thomsonreuters.com;))