Benitec licensee Tarcere signs Asian TT-033 deal
Australian biotechnology company Benitec says that its US licensee Tarcere Therapeutics and Japan's Oncolys BioPharma are to collaborate on a hepatitis C treatment based on Benitec's out-licensed RNA interference technology. Specifically, the Tarcere and Oncolys project will focus on the clinical development and commercialization of the former's agent TT-033/OBP-701 in Asia.
The accord, which could see Tarcere receive total payments of $60.0 million, is part of a 2007 strategic alliance that granted Oncolys an option to acquire rights to TT-033/OBP-701 in Asia. Under its terms, Tarcere and Oncolys will form a steering committee to work with separate Tarcere TT-033/OBP-701 licensee Pfizer on the drug's development.
The agreement also stipulates that Benitec, which has an equity holding in Tarcere, receives both milestones and future sales royalties. Further terms were not disclosed.
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