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news.Circadian Technologies has announced that its subsidiary company Vegenics has been granted an exclusive, global license to an intellectual property (IP) relating to VEGF-D by Chugai Pharmaceutical.
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The license enables Circadian to enhance its intellectual property portfolio and secure its position as the dominant player in the field of VEGF-D worldwide.
The agreement also enables Circadian to sub-license the IP, which will allow the company to expand the work in utilising the VEGF-D intellectual property estate through selective partnerships.
Under the agreement, Circadian will pay an upfront license fee to Chugai, and milestone payments and royalties based on certain VEGF-D related products.
Circadian CEO Robert Klupacs said VEGF-D is a major novel target for cancer and other diseases, including respiratory diseases, and as such is an important asset for the company.
"This agreement enhances our ability to use VEGF-D to develop new diagnostics and treatments and to potentially generate further early revenues for Circadian," Klupacs said.