Avenue Therapeutics Entered into an Exclusive License Agreement with AnnJi to Develop and Commercialize AJ201 for Spinal and Bulbar Muscular Atrophy
- AnnJi will receive $3M up front of which $2.0M is payable within 60 days & $1M within 180 days, $10.8M as reimbursement fees; ~$14.5M in development milestones; ~$27.5M in drug development milestones pertaining to additional indications & development Ex-US; ~$165M upon achievement of sales milestones along with royalty
- Avenue will also issue 831,618 shares of its common stock to AnnJi & 276,652 shares upon the achievement of a clinical milestone aggregating in total to ≤19.99% of the Company’s current total number of outstanding shares of common stock
- AJ201 is being studied in a P-Ib/IIa trial for SBMA patients at 6 clinical sites across the US. The therapy received ODD in the US for SBMA, Huntington’s Disease & Spinocerebellar Ataxia
Ref: Avenue Therapeutics | Image: Avenue Therapeutics
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