wow26 Feb 2015 07:32
Vernalis plc today announces that it has licensed exclusive, worldwide rights in its adenosine receptor antagonist programme, including the lead drug candidate, V81444, for use in all therapeutic applications to a well-funded, US-based biotechnology company. The transaction includes a $1 million upfront payment and has the potential for Vernalis to earn over $200 million subject to development, regulatory and sales milestones being achieved. In addition there are single digit royalties payable if a product reaches the market, with the potential to reach double digit royalties in certain circumstances