SPARC enters into licensing agreement with Biomodifying to acquire exclusive rights for antibody against unique oncology target
Under the agreement, Biomodifying is eligible for an upfront payment, milestone payments on pre-specified clinical, regulatory, and commercial milestones, as well as royalties on sales
Sun Pharma Advanced Research Company (SPARC) today announced that it has entered into an agreement with Biomodifying to exclusively licence Biomodifying’s intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses, including for cancer.
Under the agreement, Biomodifying is eligible for an upfront payment, milestone payments on pre-specified clinical, regulatory and commercial milestones, as well as royalties on sales. In addition, SPARC will pay Biomodifying a percentage of payments received for sublicenses of the licensed IP, according to a statement released by the company.
Speaking in this regard, Anil Raghavan, CEO, SPARC, said, “This is an important milestone for SPARC. The licensing of antibodies from Biomodifying will assist us in our endeavour to transition SPARC into a company focussed on novel treatment modalities, including bi-specific antibodies and antibody-drug conjugates.”
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