Everest Signs a License Agreement with Providence to Advance mRNA Vaccines
Shots:
- Providence to receive $100M up front for Providence's PTX-COVID19-B- mRNA technology & other products- ~$300M upon achievement of milestones- $100M in profit-sharing along with royalties in Greater China & Singapore. Providence is also eligible to receive royalties based on vaccine sales in Everest Territories
- Everest gains rights to Providence's PTX-COVID19-B in Greater China- Asia- Pakistan & other countries. PTX-COVID19-B is currently in P-II trials while interim data from the P-I study showed that the vaccine is safe & well tolerated
- The companies also enter into a 50/50 global collaboration to develop 2 additional prophylactic or therapeutic products by using Providence's mRNA Platform
| Ref: PR Newswire | Image: Crunchbase
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