SanBio and Sumitomo Dainippon Pharma Terminate Joint Development and License Agreement for SB623 in North America

 SanBio and Sumitomo Dainippon Pharma Terminate Joint Development and License Agreement for SB623 in North America

SanBio and Sumitomo Dainippon Pharma Terminate Joint Development and License Agreement for SB623 in North America

Shots:

  • The two companies will discontinue the joint development of SB623 for chronic stroke in North America under the termination of the agreement signed in 2010. Sumitomo will return the rights of SB623 to SanBio without any development cooperation fees or monetary remittance at milestones
  • The termination follows the failure of the P-I/IIa study as it did not meet its 1EPs. Additionally, Sumitomo has no plans to sell the holding shares of SanBio
  • SanBio will continue the global development of regenerative cell medicine SB623 for chronic strokes

Click here ­to­ read full press release/ article | Ref: Sumitomo Dainippon Pharma | Image: Quick Company

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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