DOV Pharma and XTL Biopharma agree licensing deal
US biopharmaceutical company DOV Pharmaceuticals says that it has signed a licensing deal with Israel-headquartered XTL Biopharmaceuticals, covering the pain treatment bicifadine. Under the terms of the deal, XTL will pay $6.5 million upfront for the rights to develop and commercialize the drug. DOV said that the total value of the accord could reach $130.0 million, including future royalties and payments.
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