Shots:

• Frequency to receive $80M up front- up to $545M as development & commercial milestone and royalties on sales in the licensed territory. Frequency will hold the rights to develop & commercialize FX-322 in the US
• Astellas to get WW rights to develop & commercialize FX-322 (Ex-US) and the companies will jointly conduct global clinical & commercial activities
• FX-322 is a regenerative therapy that acts by restoring hearing function and activating inner ear progenitor cells in the treatment of sensorineural hearing loss- with the expected onset of its P-II study in Q4’19

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Ref: Astellas | Image: Astellas