Ocugen jumps on deal with Bharat Biotech and CanSino

Hanall Biopharma

05/10/2021 11:15

** Shares of biopharma co  OCGN.O  up 6.2% at $7.17
premarket   
    ** On Tuesday, co said it entered into exclusive development
and commerical supply agreement with its Indian partner Bharat
Biotech International for Covaxin, a COVID-19 candidate vaccine
it is co-developing for U.S. and Canadian markets  urn:newsml:reuters.com:*:nGNX8sMjPX
    ** Under the agreement, Bharat Biotech to provide OCGN with
clinical trial materials and commercial supplies of finished
drug product for Covaxin  
    ** Separately, co also entered into agreement with CanSino
Biologics Inc for its gene therapy candidate OCU410 that treats
age-related degeneration of macula in the eye [https://bit.ly/2YjD2Mh
]
    ** OCGN and CanSino will collaborate on development of
OCU410 and CanSino will be responsible for the chemistry,
manufacturin and controls development and manufacture of
clinical supplies of OCU410
    ** CanSino to pay an annual royalty between mid-and-high
single digits based on net sales of OCU410 products in China,
Hong Kong, Macau and Taiwan
    ** While OCGN will pay to CanSino an annual royalty between
low-and-mid single digits based on net sales outside that
territory
   ** Up to Monday's close, stock had risen 268.9% this year

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))