• Collaboration Boosts Development of a Fully Differentiated Inhibitor of the PI3K/Akt/mTOR pathway.
• ABTL0812 is currently in Phase 2 Clinical Trials to Treat Lung and Endometrial Cancers.
BARCELONA, Catalonia, Spain- May 11th, 2016 – Ability Pharmaceuticals, SL today announced that the company has entered into an agreement with the NASDAQ-listed US company SciClone Pharmaceuticals, Inc. (SCLN) granting SciClone an exclusive license to develop and market the novel anticancer ABTL0812 in China and some adjacent territories.
Under the terms of the agreement, AbilityPharma has granted SciClone exclusive rights to develop, promote, market, distribute and sell ABTL0812 in China, as well as Hong Kong, Macau, Taiwan and Vietnam, getting access to follow-up compounds. AbilityPharma will receive an upfront payment and research funding as well as development, regulatory and sales milestone payments, potentially totaling more than $20 million; AbilityPharma will also be eligible to receive royalties on sales. SciClone will be responsible for all aspects of development, product registration and commercialization in the partnered regions, having access to data generated by AbilityPharma.
Carles Domenech, Chief Executive Officer and co-founder of AbilityPharma, stated: “We are excited to partner with SciClone, a NASDAQ US company that has a strong presence in such a rapidly growing market like China, which shares our enthusiasm and sense of urgency for bringing important new cancer therapeutics to patients. The collaboration with SciClone represents meaningful support for our development efforts. This agreement represents the first one signed for China by the Catalan and Spanish Biotech Industry, and we are very proud of it.”
• ABTL0812 is currently in Phase 2 Clinical Trials to Treat Lung and Endometrial Cancers.
BARCELONA, Catalonia, Spain- May 11th, 2016 – Ability Pharmaceuticals, SL today announced that the company has entered into an agreement with the NASDAQ-listed US company SciClone Pharmaceuticals, Inc. (SCLN) granting SciClone an exclusive license to develop and market the novel anticancer ABTL0812 in China and some adjacent territories.
Under the terms of the agreement, AbilityPharma has granted SciClone exclusive rights to develop, promote, market, distribute and sell ABTL0812 in China, as well as Hong Kong, Macau, Taiwan and Vietnam, getting access to follow-up compounds. AbilityPharma will receive an upfront payment and research funding as well as development, regulatory and sales milestone payments, potentially totaling more than $20 million; AbilityPharma will also be eligible to receive royalties on sales. SciClone will be responsible for all aspects of development, product registration and commercialization in the partnered regions, having access to data generated by AbilityPharma.
Carles Domenech, Chief Executive Officer and co-founder of AbilityPharma, stated: “We are excited to partner with SciClone, a NASDAQ US company that has a strong presence in such a rapidly growing market like China, which shares our enthusiasm and sense of urgency for bringing important new cancer therapeutics to patients. The collaboration with SciClone represents meaningful support for our development efforts. This agreement represents the first one signed for China by the Catalan and Spanish Biotech Industry, and we are very proud of it.”
