15th Jul 2016 07:45
LONDON (Alliance News) - Vernalis PLC on Friday noted that Juno Therapeutics Inc has agreed to buy RedoxTherapies Inc, which holds the worldwide licence to cancer immunotherapy molecule vipadent.
RedoxTherapies retains this licence from an agreement with Vernalis originally entered into in October 2014, and this agreement includes clinical and regulatory milestones, as well as royalties on commercial sales.
"We are delighted that Juno, a leader in chimeric antigen receptors and T-cell receptors technologies, has acquired RedoxTherapies. We look forward to seeing RedoxTherapies continue to pursue the development of vipadenant," said Chief Executive Officer of Vernalis Ian Garland in a statement.
Shares in Vernalis were up 0.5% at 47.50 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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