vTv Therapeutics surges on deal for diabetes therapy development

vTv Therapeutics

01/06/2022 12:47

** Shares of drug developer vTv Therapeutics  VTVT.O  rise
61.8% to $0.89 premarket
    ** Co enters into agreements with G42 Investments AI Holding
RSC Ltd related to TTP399, which VTVT is developing as an
adjunct therapy to insulin in patients with type 1 diabetes (https://refini.tv/3M6Bnga)
    ** Under terms of agreements, G42 will make a $25 mln
investment in VTVT, collaborate on and fund certain clinical
trials involving TTP399, and receive exclusive license for
products containing TTP399 in certain territories outside of
U.S. and EU
    ** Agreements also provide for potential issuance of $30 mln
in additional shares of Class A Common Stock to G42 if U.S. FDA
approves a product containing TTP399
    ** Stock down ~45% YTD, 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;))