DURECT (NASDAQ:DRRX) is up 39% premarket on light volume in reaction to its out-license agreement with Gilead Sciences (NASDAQ:GILD) granting the latter exclusive global rights to develop and commercialize a long-acting HIV product utilizing its SABER technology.
GILD will also receive exclusive access the SABER platform for HIV and HBV and an exclusive option to in-license additional SABER-based products directed to HIV and HBV.
Under the terms of the deal, GILD will pay DRRX $25M upfront, up to $75M in development and regulatory milestones, up to $70M in sales-based milestones and tiered royalties on net sales. If GILD exercises its option for additional SABER products, it will pay an additional $150M upfront per product plus milestones and tiered royalties on net sales.
The companies will collaborate on specific development activities. GILD will control and fund the development programs.
SABER (Sucrose acetate isobutyrate extended-release) is a technology that enables sustained release of long-acting injectables.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.