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PhaseBio Announces Global License of PB1023 to Treat Sarcopenia-Related Diseases to ImmunoForge
Apr. 09, 2019 08:58AM PST
Biotech InvestingPhaseBio Pharmaceuticals (NASDAQ:PHAS) has announced it has licensed the global rights of PB1023 to ImmunoForge. PB1023 is a recombinant GLP-1 analogue to treat sarcopenia-related diseases. As quoted in the press release: PB1023 was created as a genetic fusion protein utilizing PhaseBio’s proprietary elastin-like polypeptide (“ELP”) technology platform. Under the terms of the agreement, PhaseBio has …
PhaseBio Pharmaceuticals (NASDAQ:PHAS) has announced it has licensed the global rights of PB1023 to ImmunoForge. PB1023 is a recombinant GLP-1 analogue to treat sarcopenia-related diseases.
As quoted in the press release:
PB1023 was created as a genetic fusion protein utilizing PhaseBio’s proprietary elastin-like polypeptide (“ELP”) technology platform.
Under the terms of the agreement, PhaseBio has granted ImmunoForge an exclusive, worldwide license, with rights to sublicense, to PB1023 for the development and commercialization of treatments for all diseases except diabetes, obesity and non-alcoholic steatohepatitis (NASH). PhaseBio will receive an upfront payment upon execution of the agreement and is eligible to receive development milestone payments, and royalty payments on net sales of products, including sales from sublicense agreements.
“The license agreement with ImmunoForge further validates the potential of our half-life extending ELP technology and provides non-dilutive capital to PhaseBio,” said Jonathan P. Mow, Chief Executive Officer of PhaseBio. “We’re pleased to partner with ImmunoForge, a company leveraging cutting-edge science to develop novel therapies for cancer and metabolic diseases, to bring new treatment options to patients living with serious sarcopenia-related diseases.”
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