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news.Numab has licensed its proprietary technology to Sucampo under an R&D agreement to discover high-affinity antibodies against certain selected targets.
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Sucampo will have exclusive commercial rights to any biologic products successfully developed and commercialized in the course of the collaboration.
The agreement allows Numab to receive up to $5.7m from Sucampo as collateral for a loan from a third party.
Sucampo may name up to four targets against which Numab will use their proprietary technology to discover high-affinity antibodies and to develop these to an IND-ready stage.
Numab is eligible for FTE-based payments and discovery success-dependent fees.
If a biologic is successfully developed, Numab and Sucampo may enter into a license arrangement in which Numab will be entitled to clinical development milestone payments and increasing tiered royalties on net sales.
Sucampo will be responsible for clinical development and will retain all commercial rights to any resulting biologic product.