January 6, 2015 / 6:25 AM / 4 years ago

BRIEF-Cardio3 Biosciences buys OnCyte CAR T-Cell portfolio from Celdara Medical

Jan 6 (Reuters) - Cardio3 Biosciences SA :

* Enters immuno-oncology space with acquisition of OnCyte and its CAR T-Cell portfolio from Celdara Medical

* Acquires OnCyte for upfront payment of $10 million, of which $4 million will be paid in C3BS shares

* Celdara could receive up to $50 million in development and regulatory milestones within deal until market approval

* Celdara will be eligible to additional payments on the other products upon achievement of development and regulatory milestones totalling up to $21 million per product

* In addition, Celdara will receive up to $80 million in sales milestones when net sales will exceed $1 billion and royalties ranging from 5 pct to 8 pct

* Cardio3 BioSciences intends to progress the various candidate products acquired from current preclinical stage to human clinical trials over the next months and years Source text for Eikon: Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below