Onyx enters accord covering S*BIO's JAK2 blockers
Singaporean drug developer S*BIO has entered into a collaboration and option license agreement with the USA's Onyx Pharmaceuticals to develop and commercialize its novel JAK2 inhibitors, SB1518 and SB1578.
Under the terms of the agreement, S*BIO is eligible to receive up to $550.0 million in combined equity purchase, option and license fees, as well as development and sales milestone payments. This includes an upfront payment and equity purchase totaling $25.0 million. S*Bio is also eligible to receive up to double-digit royalties.
The Singapore-based firm will perform all the clinical development activities for SB1518 and preclinical to clinical development activities for SB1578 during the option period. Onyx can elect to exercise its exclusive options for SB1518 and SB1578 at certain predetermined stages of development for each product separately and independently.
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