Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (HKG: 2315), a China-based biopharmaceutical company, has announced an antibody evaluation and option agreement with Gilead Sciences, Inc. This deal grants the US pharmaceutical major access to Biocytogen’s comprehensive fully human antibody library, which has been developed against a broad spectrum of therapeutic targets. Over the course of a three-year nomination period, Gilead will have the opportunity to nominate targets of interest and evaluate the corresponding antibodies, with the right to acquire selected antibodies for global therapeutic development.
According to the agreement, Biocytogen will receive a payment to facilitate Gilead’s evaluation of certain antibodies directed towards a specified nominated target. Biocytogen is also eligible to receive option exercise fees, along with development, regulatory, and sales milestone payments for each selected antibody against the nominated targets. Additionally, the company is set to receive single-digit royalties on net sales.- Flcube.com
