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news.Xenetic Biosciences has entered into a Right to Sublicense Agreement with Baxalta, Baxalta, and Baxalta (collectively, with their affiliates, “Baxalta”), wholly-owned subsidiaries of Shire.
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Pursuant to the Sublicense Agreement, Xenetic granted to Baxalta the right to grant a nonexclusive sublicense to certain patents related to the Company’s PolyXenInpex technology that were previously exclusively licensed to Baxalta pursuant to an agreement between the Company and Baxalta in connection with products relating to the treatment of blood and bleeding disorders.
As part of the Sublicense Agreement, Baxalta agreed to pay Xenetic a one-time payment of $7.5 million and single digit royalty payments based upon net sales of the products covered under the sublicense throughout the term of the agreement.
“We are pleased to have entered this agreement with Baxalta and believe this transaction represents validation of the value of the comprehensive IP portfolio established surrounding our proprietary PolyXen platform technology,” said Jeffrey Eisenberg, Chief Executive Officer of Xenetic Biosciences.
“This is an exciting advancement for the Company given the immediate non-dilutive funding it provides, but more importantly, the longer-term potential of this agreement which we expect to drive significant value for Xenetic over time.”