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news.Sequella and Maxwell Biotech Venture Fund have entered into a pact for completing clinical development and commercialization of SQ109 as a treatment for tuberculosis (TB).
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Jointly discovered by scientists at Sequella and the National Institute of Allergy and Infectious Diseases (NIAID), SQ109 is currently being investigated in Phase 2 efficacy studies in TB patients in Africa.
Sequella has licensed the drug to Biotech Venture Fund in Russian Federation and neighboring Commonwealth of Independent States (CIS) countries, including Armenia, Azerbaijan, Belorussia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Ukraine.
The financial terms of the agreement include an equity investment, clinical trial supply purchase, milestones, and royalty payments that, contingent upon successful development and commercialization, could be worth up to $50m to Sequella over the duration of the license.
Maxwell Biotech Venture managing partner Alexander Polinsky said this molecule, if successful, has the potential to benefit significantly all patients with TB.
"By investing in our subsidiary, Maxwell Biotech Venture Fund is fulfilling its strategic objective of making novel innovative drugs available to Russian patients," Polinsky said.