Cerecor Inks New Global License Agreement With Kyowa Kirin For CERC-002
Cerecor Inc's (NASDAQ: CERC) wholly-owned subsidiary, Aevi Genomic Medicine LLC, has entered into an expanded agreement with Kyowa Kirin Co Ltd (OTCMKTS: KYKOF) for exclusive worldwide rights to CERC-002 for all indications, including severe pediatric-onset inflammatory bowel disease and ARDS (including COVID-19 ARDS).
Under the terms of the agreement, Cerecor will receive exclusive rights for the development, manufacturing, and commercialization of the antibody for all indications worldwide, including the U.S., Europe, and Japan.
Kyowa Kirin can retain the rights in Japan and receive an up-front payment from Cerecor. It is also eligible to receive additional milestone payments and sales-based royalties, and a share of sublicensing income.
CERC-002 is a fully human anti-LIGHT or tumor necrosis factor superfamily member 14 (TNFSF14) monoclonal antibody licensed from Kyowa Kirin.
Price Action: CERC shares are trading 2.68% at $3.06 in premarket on the last check Monday.
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