
BioVersys AG announced today a research and exclusive license option agreement with Japanese pharmaceutical company Shionogi & Co to jointly develop its novel preclinical ansamycin platform for developing treatments of non-tuberculous mycobacteria (NTM), BioVersys said in a news release.
Shionogi will pay BioVersys 5 million Swiss francs ($6.3 million US) up front for developing BV500, BioVersys's NTM drug candidate and, upon exercise of the license option, regulatory and sales milestones of up to 479 million Swiss francs ($605 million) as well as royalties on future sales.
'Significant unmet medical needs'
Marc Gitzinger, PhD, chief executive officer and co-founder of BioVersys, said, "We are excited to work with our colleagues at Shionogi to advance the development of our NTM asset expeditiously towards patients in need. This collaboration reduces research and development risk for BioVersys while preserving financial discipline. It also expands the reach of our pipeline and ensures the expedited development of our drug candidates.”
Nawaz Khan, PhD, head of research at BioVersys, added, "BV500 has the potential to become a best in class therapeutic for NTM infections. We are proud that the program attracted such a strong partner."
BV500 has the potential to become a best in class therapeutic for NTM infections.
John Keller, PhD, senior vice president at Shionogi, said, "This collaboration reflects our commitment to advancing innovative treatments for infectious diseases with significant unmet medical needs."