AnnJi Entered into an Exclusive License Agreement with Avenue Therapeutics to Develop and Commercialize AJ201 for Kennedy's Disease
Shots:
- AnnJi to receive $3M up front, ~250M in development, regulatory & commercialization milestones along with royalty. The companies collaborated to develop & commercialize AJ201 in the US, Canada, EU, Great Britain & Israel for SBMA, also known as Kennedy's Disease
- AnnJi will hold the manufacturing right for the clinical & commercial supply of AJ201 to Avenue. A total of 831,618 shares of Avenue's common stock will be given to AnnJi & additional shares upon the achievement of clinical milestones in total to ≤19.99% of the company's outstanding common stock
- AJ201 is being studied in clinical trials for Kennedy's Disease at 6 sites across the US. AJ201 received ODD from the US FDA for SBMA, HD & Spinocerebellar Ataxia & from the EMA for SBMA
Ref: Prnewswire | Image: Annji
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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.
