RE: Drawdown23 Sep 2023 12:53
Terms of the deal
The deal is good from Cizzle’s perspective, because it promotes the development of its CIZ1b-based diagnostic test for lung cancer at little cost to the company, secures supply agreements for monoclonal antibodies and reagents used in the test, and will bring future royalties on sales.
► The partners are responsible for funding all activities in China, including the development, clinical trials, manufacturing of commercial test kits, and distribution of the product.
► Initial development will commence within 60 days of Cizzle supplying the immunoreagents to its partners in China.
► Cizzle will supply, and be paid for, all the monoclonal antibodies and reagents used in the test, for security and quality control.
► Cizzle is to receive a 10% royalty on net sales of all products and services using its proprietary CIZ1b technology.