Shots:
- Processa & Intact have entered into a binding term sheet for granting Intact an exclusive option to license PCS12852 for gastroparesis & other GI motility disorders
- As per the deal, Processa will receive a 3.5% equity in Intact at closing, $2.5M option fee, ~$20M in development & regulatory milestones, ~$432.5M in commercial milestones, & double-digit royalties on global sales (excl. South Korea), sharing 60% of cash payments with its licensor (excl. Intact’s equity)
- PCS12852 is a selective 5-HT4 receptor agonist designed to restore gastric emptying without CV or CNS side effects, which showed favorable safety, tolerability, & efficacy in a P-IIa trial for diabetic gastroparesis
Ref: Globenewswire | Image: Processa & Intact | Press Release
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