SPARC licenses development and commercialisation rights of PDP-716 and SDN-037 to Visiox Pharma
SPARC to receive equity in Visiox along with other financial considerations
Sun Pharma Advanced Research Company (SPARC) today announced that it has entered into an agreement with Visiox Pharma to grant exclusive worldwide rights (except for India and Greater China) for the development and commercialisation of PDP-716 and SDN-037.
Under the terms of the licence agreement, SPARC will be eligible to receive an upfront payment, milestone payments and royalty on sales, in addition to 10 per cent equity in Visiox.
“The collaboration with Visiox allows us to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs,” said Anil Raghavan, CEO, SPARC.
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