Entos Pharmaceuticals Inc. ("Entos" or the "Company"), a healthcare biotechnology company focused on the development of next-generation nucleic acid-based therapies using their Fusogenix drug delivery platform, today announced it has entered into a research, development and collaboration agreement ("Agreement") with a clinical stage biopharmaceutical company ("Partner") focused on the development of novel therapeutic compounds targeting autoimmune and inflammatory diseases.
Under the terms of the agreement, the Partner has the option to exclusively license candidates developed under the Agreement from Entos for further development and commercialization. In return, Entos receives research funding and is eligible for option exercise fees, research, development, regulatory, and sales milestone payments of up to US$109 million.
In addition, the Partner will pay Entos undisclosed royalties on sales of products resulting from the collaboration.
This marks our second major collaboration for the Fusogenix technology and represents further validation of our non-viral repeat dosing nucleic acid delivery platform. We are excited to be working with our new partner to develop new clinical immunotherapy candidates."
Dr. John Lewis, President and CEO, Entos Pharmaceuticals Inc.
Deloitte Corporate Finance Inc. acted as exclusive financial advisor and Norton Rose Fulbright Canada LLP acted as legal counsel to Entos on the transaction.