Under the agreement, Safetek is granted exclusive inhibition compounds, world-wide licensing rights for all of Matrix’s intellectual property relating to its thrombin including the full scope of potential indications.
Matrix Pharma will receive milestone payments either in cash or by the issuance of shares in Safetek common stock.
Safetek estimates that it will have to invest approximately $3.5 million to complete five stages of development. However, the company does not currently have these funds and is continuing its efforts to raise additional capital as well as seeking strategic arrangements with third parties.
“We strongly believe that this drug is a breakthrough treatment both for patients and physicians in treating a range of thrombotic diseases as it does not exhibit the significant drawbacks of currently available drugs,” said Amnon Presler, Safetek’s CEO.