29.11.2023 13:49:16
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Kazia Therapeutics Enters Non-binding LOI For Paxalisib Rights Outside Of Oncology
(RTTNews) - Kazia Therapeutics Limited (KZIA) has signed a non-binding Letter of Intent with an undisclosed biotechnology company for the license of worldwide rights, other than mainland China, Hong Kong, Macao and Taiwan, to develop and commercialize pharmaceutical product containing paxalisib in an indication outside of cancer. The proposed terms include an upfront payment, and potential for clinical and regulatory milestone payments, as well as commercial sales-based royalties and milestones.
The company said the LOI sets out the proposed terms and preliminary conditions of the agreement as well as a 90-day exclusivity period. The companies are currently negotiating the definitive license agreement.
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