Cytos Biotechnology AG (SWX: CYTN) has entered into an exclusive global commercial license agreement with Novartis (NYSE:NVS) for the development, manufacturing and commercialization of CYT002-NicQb – a novel therapeutic vaccine under phase II clinical development for the treatment of nicotine addiction.
The terms of agreement include:
Novartis is granted world-wide exclusive rights for CYT002-NicQb and is responsible for late stage clinical development, manufacturing, and commercialization of the vaccine. - Cytos Biotechnology is eligible to receive up to CHF 600 million in upfront and potential development, regulatory approval and sales milestone payments based on the successful development and commercialization of CYT002-NicQb.
- The upfront payment by Novartis will be CHF 35 million and Cytos Biotechnology will receive royalty payments on net sales of products.
Developed through Cytos Biotechnology's Immunodrug™ platform, CYT002-NicQb is a therapeutic vaccine in development for the treatment of nicotine addiction, vaccination of which has been shown to induce nicotine- specific antibodies that bind nicotine in the bloodstream.
Find more details from the full report (a pdf file).
Open this pdf file to know more about CYT002-NicQb.
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