PhaseBio rises on European licensing deal for blood clotting drug

PhaseBio Pharmaceuticals

17/06/2021 14:11

** Shares of drug developer  PHAS.O  rise 13.9% to $4.5
premarket, set for best day in 3 months 
    ** PhaseBio announces European licensing agreement with
privately-held Alfasigma S.P.A for commercialization of its
experimental drug, bentracimab, an agent to reverse the
anti-clotting effect of AstraZeneca Plc's  AZN.L  blood thinner
Brilinta  urn:newsml:reuters.com:*:nBw7LBzk9a
    ** PhaseBio to receive $20 mln upfront payment and is
eligible to receive up to $245 mln in milestone payments
    ** Under the deal, PHAS will develop bentracimab and secure
approval with the European and UK drug regulators, after which
marketing authorization will be assigned to Alfasigma
    ** Alfasigma will be responsible for securing regulatory
approval in other territories
    ** Co expects to submit its marketing application to the
U.S. FDA for bentracimab in mid-2022
    ** The drug is currently in late-stage clinical development
    ** Up to Wednesday's close, stock had risen ~18% YTD

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))