RE: Tecc29 Jan 2025 00:26
Roq was a top mover in the biotech space. Shares rose 20 per cent after signing a term sheet to out-licence its Midkine antibody portfolio to Dubai-based PDC. The deal includes an upfront payment of $10million.
Roquefort will also receive a non-dilutive equity stake in a special purpose vehicle (SPV) that PDC will use to develop the Midkine antibodies. The exclusive worldwide licence will last for 20 years.