SPARC partners with UCSF and Tiller Therapeutics to license oncology asset

Sun Pharma Advanced Research Company (SPARC) has signed a binding Letter of Intent (LOI) with the University of California, San Francisco (UCSF), through its Office of Technology Management and Advancement (OTMA), and Tiller Therapeutics (Tiller). The agreement licenses SPARC’s rights in the joint intellectual property developed with UCSF for a pre-clinical oncology asset, along with associated intellectual property. The LOI specifies the key terms for the development and commercialisation of the asset by Tiller.

Under the terms of the LOI, SPARC will acquire a 55 per cent equity stake in Tiller. This equity will vest in two tranches: 45 per cent upon execution of the licensing agreement and the remaining 10 per cent either upon achieving specific milestones by Tiller or within six months of the licence agreement’s execution. Further terms of the partnership will be detailed in the forthcoming licensing agreement.

Anil Raghavan, CEO of SPARC, stated, “We are excited about the opportunity to partner with Tiller to advance potential treatment of solid tumours affecting millions each year, with no current cure.”