Genovis announces exclusive license agreement with Selecta Bioscience to develop and promote a novel IgG Protease in Gene Therapy and Autoimmune Disease
Under the agreement Genovis grants Selecta exclusive license to develop and promote a proprietary IgG protease, Xork™, as a potential pre-treatment prior to the administration of gene therapy and for autoimmune diseases. Under the terms of the license: · Genovis will receive USD 6 million in upfront and early preclinical milestone payments and is eligible for up to USD 598 million in development, regulatory and sales milestone payments. Additionally, Genovis will receive double digit royalties on sales. · Genovis will retain its rights to the Xork enzyme for all applications