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news.Array BioPharma and VentiRx Pharmaceuticals have entered into a license agreement granting VentiRx exclusive worldwide rights to Array's toll-like receptor (TLR) program. Financial terms were not disclosed.
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The program contains a number of development candidates targeting TLRs to activate innate immunity. VentiRx expects to develop its first two candidates in oncology and allergy.
Array will receive an equity stake in VentiRx as well as an upfront payment, potential milestone payments and royalties on product sales. Array retains the option to acquire a 50% ownership position in all VentiRx clinical oncology products developed under this agreement.