July 18, 2017 / 12:44 PM / 2 years ago

BRIEF-Sarepta and Biomarin report execution of global settlement

July 18 (Reuters) - Sarepta Therapeutics Inc:

* Sarepta Therapeutics and Biomarin Pharmaceutical Inc. Announce execution of a global settlement and a license agreement resolving exon skipping patent litigation

* Sarepta Therapeutics Inc - ‍under terms of license and settlement agreements, Sarepta will make a one-time payment of $35 million to Biomarin​

* Says ‍Sarepta will also pay royalties to Biomarin​

* Sarepta- ‍Biomarin retains right to convert license to a co-exclusive right in event it decides to proceed with an exon-skipping therapy for dmd​

* Sarepta Therapeutics- ‍Biomarin retains right to convert license to co-exclusive right in event it decides to proceed with exon-skipping therapy for DMD​

* Sarepta Therapeutics - to make ‍additional regulatory, commercial milestone payments for exons 51, 45, 53, possibly on future exon-skipping products

* Sarepta-‍effectiveness of agreements subject to closing conditions including execution of necessary approvals by Academisch Ziekenhuis Leiden by July 24​ Source text for Eikon: Further company coverage:

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