RE: RNS - we are entering the US market!!6 May 2022 09:27
From Previous RNS
Allan Syms, Executive Chairman of Cizzle Biotechnology, said
"The agreement announced today represents an important extension to our close relationship with SGSC and Conduit. On 20 September 2021 we announced we had acquired a stake in SGSC's AZD 1656 asset, providing the opportunity for the Company to receive royalty payments of up to £5 million and shortly after SGSC contracted the Company to develop an associated companion diagnostic test for which we will receive fees of up to £1 million.
"We are now pleased to have the opportunity to increase our stake by an additional 5% in AZD 1656, but significantly the Economic Interest will be uncapped. This new Agreement supports the Company's ambitions to expand its target customer base in the pharmaceutical industry and through a strategy of building a portfolio of early cancer detection tests, companion diagnostics and royalty bearing stakes in significant drug assets significantly increase shareholder value."