Under the terms of the agreement, the license grants exclusive rights to Drais to develop and commercialize DTS-108 worldwide. In return, Diatos is expected to receive an upfront payment, development milestones and sales milestones, plus royalties. The total value of the non-royalty portion of the partnership is valued at $46.9m.
Donna Tempel, president and CEO of Drais Pharmaceuticals, said: DTS-108 will become a key asset for Drais and we believe strongly in its potential to provide significant benefits over existing cancer therapies. This is a major step for Drais as we continue to build our therapeutic pipeline.
John Tchelingerian, president and CEO of Diatos, said: We are confident that DTS-108 will fulfill its potential as a valuable addition to the physician’s armamentarium in the treatment of cancer. This transaction also represents further validation of the Diatos Vectocell technology platform.