Seelos Therapuetics rises on drug licensing deal

Seelos Therapeutics

24/11/2021 13:53

** Shares of drug developer  SEEL.O  rise 5.6% to $2.06
premarket
    ** Co enters https://refini.tv/3l5Zy3v into exclusive
licensing agreement with Singapore-based iX Biopharma Ltd for
its sublingual ketamine therapies for pain management and
depression
    ** Seelos will acquire worldwide license - except in China,
Taiwan, Macau and Hong Kong - for Wafermine as well as other
products incorporating ketamine and delivered using iX
Biopharma's WaferiX tech
    ** As per terms, Seelos will pay iX Biopharma upfront fee of
$9 mln as well as certain milestone payments and a low
double-digit royalty on future net sales of certain licensed
products
    ** Plans to evaluate sublingual ketamine, now named SLS-003,
in pain indications such as chronic neuropathic pain and
additional psychiatric disorders
    ** Stock up 23.42% this year, as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))