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Avacta inks licence agreement with Point Biopharma to provide access to drug platform
StockMarketWire.com
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Cancer therapies and diagnostics group Avacta said it had entered into a license agreement with Point Biopharma to provide the latter access to its technology for the development of tumour-activated radiopharmaceuticals.
Under the terms of the agreement, Avacta would receive an upfront fee and development milestones for the first radiopharmaceutical prodrug totalling $9.5 million.
Avacta would also receive milestone payments for subsequent radiopharmaceutical prodrugs of up to $8 million each, a royalty on sales of FAP-activated radiopharmaceuticals and a percentage of any sublicensing income received by Point, the company said.
At 8:05am: (LON:AVCT) Avacta Group PLC share price was 0p at 111.5p
Story provided by StockMarketWire.com
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