Avacta Group has signed a license agreement with Point Biopharma to provide that company with access to its pre/Cision technology for developing tumor-activated radiopharmaceuticals.
Point Biopharma develops radioligands for cancer treatment, and Avacta's pre/Cision technology can be used to modify radioligand-based drugs into tumor-activated "prodrugs," according to the firm. The license agreement will grant an exclusive license to Point Biopharma to use pre/Cision to develop these prodrugs and a nonexclusive license to use it to develop a range of fibroblast activation protein-activated radiopharmaceuticals, Avacta said.
Under terms of the deal, Point Biopharma will pay Avacta an upfront fee of $9.5 million, milestone payments of up to $8 million for each subsequent radiopharmaceutical prodrug developed, royalties on sales of fibroblast activation protein-activated radiopharmaceuticals, and a percentage of any sublicensing income Point Biopharma receives, according to the firm.
