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IN BRIEF: Evgen Pharma shares drop on ending of license agreement

Wed, 02nd Aug 2023 10:28

Evgen Pharma PLC - Cheshire, England-based clinical stage drug development company focused on developing sulforaphane-based medicines - Terminates the patent and know-how license agreement for its Sulforadex sulforaphane stabilisation technology with partner JuvLife Ltd. The exclusive rights will be returned in the final quarter of 2023. The already received upfront payment is non-refundable.

"JuvLife has undergone a business re-organisation and re-prioritisation exercise. The return of these rights enables us to focus on higher value partnerships for pharmaceutical use of our Sulforadex technology, such as the licensing deal concluded with Stalicla in late 2022 and our own oncology programmes," says Chief Executive Huw Jones.

Current stock price: 2.94 pence, down 8.1% in London on Wednesday morning

12-month change: down 15%

By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

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