Purple Biotech inks deal with Mor Research on cancer treatments
Israel-based clinical-stage company Purple Biotech (Nasdaq: PPBT) saw its shares edge up more than 4% to 53.10 shekels today, when it announced a research collaboration with Mor Research Applications (Mor), the technology transfer subsidiary of Clalit Healthcare Services (Clalit).
The agreement provides Purple Biotech first access to early-stage oncology product candidates owned by Mor. Additionally, the company will have the option to fund early development aiming both to in-license selected drug assets and to pursue their development and commercialization.
Clalit is Israel's largest Health Maintenance Organization (HMO), covering around half the population of Israel (52%). Clalit serves about 4.8 million members and operates 14 hospitals. The research conducted at these hospitals is now potentially available to Purple Biotech for in-licensing and clinical development.
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