Santhera jumps, as it out-licenses vamorolone for Greater China
Shares of Swiss biotech Santhera Pharmaceuticals (SIX: SANN) were up 15.4% at 1.50 Swiss francs by early afternoon, after it revealed an exclusive license agreement with China-based rare diseases specialist Sperogenix Therapeutics.
Under the accord, Sperogenix will in-license vamorolone for rare disease indications for a total consideration of up to $124 million, including a double-digit upfront cash compensation and Duchenne muscular dystrophy (DMD)-related US-regulatory milestone payments amounting to a combined $20 million, as well as further double-digit royalties on net sales.
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