Avenue Therapeutics Entered into an Exclusive License Agreement with AnnJi to Develop and Commercialize AJ201 for Spinal and Bulbar Muscular Atrophy
Shots:
- AnnJi will receive $3M up front of which $2.0M is payable within 60 days & $1M within 180 days, $10.8M as reimbursement fees; ~$14.5M in development milestones; ~$27.5M in drug development milestones pertaining to additional indications & development Ex-US; ~$165M upon achievement of sales milestones along with royalty
- Avenue will also issue 831,618 shares of its common stock to AnnJi & 276,652 shares upon the achievement of a clinical milestone aggregating in total to ≤19.99% of the Company’s current total number of outstanding shares of common stock
- AJ201 is being studied in a P-Ib/IIa trial for SBMA patients at 6 clinical sites across the US. The therapy received ODD in the US for SBMA, Huntington’s Disease & Spinocerebellar Ataxia
Ref: Avenue Therapeutics | Image: Avenue Therapeutics
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
