Brief: Vaxcyte Exercises Option And Enters Into Manufacturing Rights Agreement With Sutro Biopharma
27/11/2023 21:02
Nov 27 (Reuters) - Vaxcyte Inc PCVX.O :
* VAXCYTE EXERCISES OPTION AND ENTERS INTO MANUFACTURING
RIGHTS
AGREEMENT WITH SUTRO BIOPHARMA TO OBTAIN CONTROL OVER
MANUFACTURING AND DEVELOPMENT OF CELL-FREE EXTRACT FOR ITS
VACCINE CANDIDATES
* VAXCYTE INC: PAID SUTRO $50 MILLION IN CASH AND IS
OBLIGATED TO
PAY SUTRO AN ADDITIONAL $25 MILLION IN CASH WITHIN SIX MONTHS
* VAXCYTE INC: UPON OCCURRENCE OF CERTAIN REGULATORY
MILESTONES,
CO WOULD BE OBLIGATED TO PAY SUTRO ADDITIONAL MILESTONE PAYMENTS
UP TO $60 MILLION IN CASH
Source text for Eikon: ID:nGNXFSbrQ
Further company coverage: PCVX.O
((Reuters.Briefs@thomsonreuters.com;))