Fovea licenses RdCVF from Novartis
France's Fovea Pharmaceuticals SA, a biopharmaceutical company focused on the field of ophthalmology has signed an exclusive development and commercialization agreement with Swiss drug major Novartis on RdCVF (Rod-derived Cone Viability Factor), for the treatment of retinal degenerations.
Through its license agreement with Novartis, Fovea will fund and conduct preclinical and clinical development of RdCVF up to its commercialization. In exchange for its development efforts, Fovea received exclusive worldwide commercial rights to RdCVF protein therapy. Novartis can exercise a pre-negotiated one-time call back option, which includes an upfront payment and royalties to Fovea.
Should Fovea successfully bring RdCVF to market, Novartis is eligible for development and regulatory milestone payments, as well as royalties on sales. Further financial terms were not disclosed.
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