 "Sun Pharma")
Sun Pharma Advanced Research Company (SPARC) on Friday said it has inked a licensing pact with Biomodifying LLC.
As part of the agreement, the Indian firm will exclusively licence intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses including for cancer.
As per the pact, Biomodifying is eligible for an upfront payment, milestone payments on pre-specified clinical, regulatory, and commercial milestones, as well as royalties on sales, SPARC said in a statement.
In addition, Biomodifying will also receive a percentage of payments received for sublicenses of the licensed IP, it added.
"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," SPARC CEO Anil Raghavan stated.
Biomodifying, LLC is a biotech company dedicated to identifying and exploiting molecules over-expressed by cancer cells by developing next generation novel therapies that specifically target tumors while sparing normal, non-cancerous tissues.
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