Sun Pharma Advanced Research Company Ltd. on Thursday announced that it has entered into an agreement with Johns Hopkins University (JHU) and The Institute of Organic Chemistry and Biochemistry of the Czech Academy of Sciences (IOCB) (Licensors) to exclusively license SCD-153 including all patents and patent applications owned or controlled by licensors, the company announced through an exchange filing.
SPARC had evaluated SCD-153 under a Material Transfer Agreement (MTA) after which it entered into an Option to License Agreement with the licensors. SPARC’s IND was approved by Drug Controller General of India (DCGI).
Under the terms of the agreement, the licensors are eligible for upfront payment, milestone payments contingent upon the achievement of regulatory and sales milestones, as well as tiered royalties on sales.
“The licensing of SCD-153 marks another successful collaboration between SPARC and an academic institute under our outreach program with academia. Topical SCD-153, upon successful development, can provide an important option to clinicians and patients for the treatment of Alopecia Areata " said Anil Raghavan, CEO of SPARC.
The shares of SPARC on Thursday at 9:54 am IST were trading at Rs 241.80, up by 5.34 percent.