Shots:
- Avata has entered into a co-development & licensing deal with Oceanus Bio for exclusive rights to AVAT-021 & AVAT-022 in Japan & Asia, excl. China & India
- As per the deal, Avata will receive $95M in co-development contributions, regulatory & sales milestones, plus double-digit royalties on sales, while Oceanus will lead regulatory activities & clinical development in Japan & Asia in collaboration with Avata
- AVAT-021 is a solid dose CBD for treatment-resistant epilepsy & schizophrenia, which showed favorable bioavailability vs Epidiolex in P-I trial, meeting all PK endpoints, with the FDA’s IND filing planned in H2’25 via 505(b)(2) pathway, while AVAT-022 is a water-soluble CBD powder, developed for pediatric use
Ref: Businesswire | Image: Avata Biosciences | Press Release
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