Licensing
Drug delivery specialist PolyTherics Limited has announced an extension of its relationship with Celtic Pharma Development Services Bermuda Ltd, a London-based private equity investment fund. The initial collaboration agreement, entered into just over twelve months ago, aimed at generating modified biologics with improved half-life and predictable bioactivity.
PolyTherics has now granted Celtic Pharma an exclusive licence to develop and commercialise the first novel biotherapeutic discovered in this collaboration.
PolyTherics receives an upfront licence fee with clinical and regulatory milestones as well as royalties on eventual product sales. Further details of the agreement were not disclosed.
PolyTherics specialises in the targeted modification of biopharmaceuticals. Through its platform of site specific polyethylene glycol (PEG) based technologies, it optimises the pharmacokinetic properties of biologics.
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