PhaseBio up on PB2452 collaboration with SFJ Pharma

PhaseBio Pharmaceuticals (NASDAQ:PHAS) is up 12% premarket on announcing financing and co-development collaboration with SFJ Pharmaceuticals for the development of PB2452, a reversal agent for the antiplatelet therapy ticagrelor.

Under the terms of the agreement, SFJ has agreed to fund up to $120M to support the development of PB2452 and regulatory activities outside the U.S. SFJ will fund up to $90M of development expenses through the end of 2021 and up to an additional $30M based on PhaseBio meeting specific, pre-defined clinical milestones for PB2452.

PhaseBio will pay SFJ a series of annual payments over seven to eight years following receipt of regulatory approvals in the U.S., the European Union and either China or Japan.

PhaseBio will retain exclusive worldwide commercial rights to PB2452.

https://seekingalpha.com/news/3530974-phasebioplus-12-premarket-on-pb2452-collaboration-sfj-pharma