Ryvu will receive $20.89M up front in exchange for rights to Ryvu’s STING agonist portfolio, $20.89M in equity investment & is also eligible to receive R&D and commercial milestones along with royalties. BioNTech obtains an option to license rights globally to develop & commercialize the programs at the development stage
BioNTech also gets an exclusive license globally for Ryvu’s STING agonist portfolio as standalone small molecules & will fund all discovery, research & development activities, incl. Ryvu’s discovery & research activities
The companies jointly responsible for drug discovery & research projects to develop multiple small molecule programs at exclusive targets with initial focuses on immune modulation in oncology
Ref: Globenewswire | Image: BioNTech
