Sun Pharma Advanced Research signs licensing deal with Biomodifying
Sun Pharma Advanced Research Company (SPARC) has signed an agreement with US-based Biomodifying for the exclusive licensing of the latter’s intellectual property (IP), including all patents and patent applications owned or controlled by it in addition to antibodies developed for various uses including for cancer.
The India-based clinical stage biopharma company, which is owned by Shanghvi Finance, said that Biomodifying will be entitled to an up-front payment along with milestone payments on pre-agreed clinical, regulatory, and commercial milestones, and also royalties on sales.
Additionally, Sun Pharma Advanced Research Company will pay a percentage of payments to Biomodifying, which are earned for sublicenses of the licensed IP.
Anil Raghavan — CEO of Sun Pharma Advanced Research Company said: “This is an important milestone for SPARC. The licensing of antibodies from Biomodifying will assist us in our endeavour to transition SPARC into a company focussed on novel treatment modalities, including bi-specific antibodies and antibody drug conjugates.”