NOXXON Pharma N.V. a biotechnology company whose core focus is on cancer treatment, has announced an agreement with Aptarion biotech AG to license enabling technology, assign certain preclinical and technology research programs and transfer lab assets in exchange for cash, royalties and an equity stake in Aptarion.
NOXXON has maintained exclusive rights to Spiegelmers binding to the targets of its clinical stage programs. Otherwise, the agreement allows both companies to use the Spiegelmer® technology, and a cross-licensing provision provides for continued access to new enabling inventions to be used by both companies.
“This agreement is another step on the transition of NOXXON to a clinical-stage oncology company. With our focus on clinical development of our programs in oncology, we made the decision to spin-out the other assets and this agreement with Aptarion is, we believe, the best opportunity to see them successfully developed.”
commented Aram Mangasarian, CEO of NOXXON.