Theriva Biologics sells antibiotic-degrading enzyme portfolio to Biossil Labs
TOVX•Theriva Biologics sold its antibiotic-degrading enzyme portfolio, including SYN-004, to Biossil Labs for $350,000 upfront, with up to $91 million in potential milestone payments and capped royalties.
1. Sale terms
Theriva Biologics sold its antibiotic-degrading enzyme portfolio, including SYN-004 (ribaxamase), to Toronto-based Biossil Labs. Theriva received $350,000 upfront at closing and may receive up to $3 million for regulatory achievements and $88 million tied to cumulative worldwide net sales. Low single-digit royalties on net product sales are capped at $250 million; Biossil assumed responsibility and costs for future development and commercialization.
