Construction Industry News
Sun Pharma Advanced Research Company (SPARC) said Friday it has entered into a licensing agreement with Biomodifying LLC.
As part of the agreement, the Indian company will exclusively license intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses, including for cancer.
Under the pact, Biomodifying is eligible for an upfront payment, milestone payments on pre-specified clinical, regulatory and commercial milestones, as well as royalties on sales, SPARC said in a statement.
In addition, Biomodifying will also receive a percentage of the payments received for sublicenses of the licensed IP, it added.
“This is an important milestone for SPARC. The antibody licensing from Biomodifying will help us in our quest to transform SPARC into a company focused on novel treatment modalities, including bispecific antibodies and conjugated antibodies,” said SPARC CEO Anil raghavan.
Biomodifying, LLC is a biotech company dedicated to identifying and exploiting molecules overexpressed by cancer cells through the development of new next-generation therapies that specifically target tumors, while sparing normal, non-cancerous tissues.
