As part of a broader collaboration with NanoMab Ltd, Radiopharm's acquisition of the NanoMab PD-L1 IP will be at no cost for Radiopharm Theranostics.
About the collaboration agreement
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Whilst the anticipated expenditure under the collaboration agreement is not considered financially material to Radiopharm in the context of its annual budgeted expenditure, the nature of the agreement and benefit to Radiopharm is considered important, in particular due to Radiopharm:
1) acquiring the imaging rights of NM-01 in the strategic Chinese market
2) acquiring worldwide IP rights of NM-01 for any therapeutic use (previously a licencing right)
3) now has access to data on NM-01 generated by Lantheus to cross reference that data to accelerate the development plans for the PD-L1 assets, including the development and regulatory process with USA Food and Drug Administration (FDA) and other key regulatory agencies.
Expenditure under the agreement is expected to be funded from existing cash reserves. There are no conditions precedent, and the agreement is effective immediately for a term of seven years. The agreement is subject to usual industry termination provisions. Radiopharm has a right of access to information generated during the agreement.
Authorised on behalf of the Radiopharm Theranostics board of directors by Chairman Paul Hopper.
SOURCE Radiopharm Theranostics
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