Starpharma Achieves Milestone, Triggers AUD $0.5M Fee
Key points
- Achieved key milestone under Radiopharm collaboration
- AUD $0.5M option fee payable to Starpharma
- Radiopharm may elect to take an exclusive license to Starpharma's technology
- Potential for Starpharma to receive up to AUD $91M in payments
Full summary
Starpharma Holdings Ltd, an innovative biotechnology company, announced that it has achieved a significant milestone under its collaboration agreement with Radiopharm Theranostics, triggering an AUD $0.5 million option fee payable to Starpharma. This milestone represents a tangible commercial outcome from the collaboration and moves the program into an option period during which Radiopharm may elect to take an exclusive license to Starpharma's proprietary DEP® dendrimer technology for a radiopharmaceutical asset. If Radiopharm exercises the option, Starpharma would be eligible to receive up to AUD $91 million, including an upfront, success-based development, regulatory and commercial milestone payments, in addition to royalties on net sales.
Guidance
Potential for Starpharma to receive up to AUD $91M in payments
Outlook
Starpharma and Radiopharm look forward to continuing their collaboration during the option period.
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