SPARC, Biomodifying ink antibody licensing agreement
Mumbai: Sun Pharma Advanced Research Company Ltd. (SPARC) has recently announced that the company has entered into an agreement with Biomodifying LLC to exclusively license 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 up-front 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.
"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" said Anil Raghavan, CEO of SPARC.
Read also: Appointment of Anilkumar Raghavan as CEO gets SPARC shareholders nod
Sun Pharma Advanced Research Company (SPARC) is a clinical stage bio-pharmaceutical company. SPARC was formed in 2007 through a demerger from Sun Pharma, a global leader in speciality generics.
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