PharmAla Biotech licenses exclusive US rights to ALA-002 to Jupiter Neurosciences for up to US$100 million
JUNS•Milestones and royalties
Contingent milestones of up to US$96.67 million are tied to development, FDA approval, and U.S. net sales thresholds.
The royalty is set at 3% of U.S. net sales, starting after the third commercialization milestone.
PharmAla retains non-U.S. rights
PharmAla retains ALA-002 rights outside the U.S. and will supply GMP-grade drug product under a separate supply agreement.
License agreement for U.S. rights
PharmAla Biotech granted Jupiter Neurosciences an exclusive, perpetual, royalty-bearing license for U.S. development and commercialization of ALA-002.
Total consideration is up to about US$100 million, including US$3.33 million upfront, paid in cash and Jupiter common stock.
