Swiss-Finnish Aurealis Therapeutics has entered into an exclusive license and collaboration agreement with Xbiome for the clinical development and commercialization of Aurealis investigational Diabetic Foot Ulcer (DFU), other chronic wounds, and inflammatory disease therapy AUP-16 in Greater China.
Under the terms of the license and collaboration agreement, Xbiome acquires exclusive development and commercial rights for all human use to Aurealis clinical stage DFU drug candidate AUP-16 in Mainland China, Hong Kong, Macao, and Taiwan. Xbiome will be responsible for all clinical and other development, regulatory submissions, and commercialization of the licensed products in the licensed territory. Aurealis retains full rights to AUP-16 outside of the specified territory and will continue to lead the global development of the drug candidate.
139 million USD plus single to double digit ascending royalties on product sales
The companies will collaborate on the joint development for DFU and potentially on other selected indications. As a consideration for the agreement, Aurealis will receive an upfront payment, development milestone payments, and is eligible to receive commercial milestone payments and royalties on product sales, which all taken together could amount to a total consideration of $139 million plus single to double digit ascending royalties on product sales.
“At Aurealis we develop truly novel GMO cell and gene therapies to improve the lives of millions of patients worldwide. DFUs and other chronic wounds not only cause great pain, but also enormous costs to the society. We are very excited to collaborate with Xbiome and work together to develop a unique cure for these conditions with rapidly growing prevalence in China and around the world. We are honored to embark on this journey together with our colleagues at Xbiome,” says Roger Meier, Aurealis Chairman of the Board.