Alligator Bioscience inks antibody accord for Greater China with Biotheus

Under a license agreement announced today, Sweden’s Alligator Biosciences (Nasdaq: Stockholm:: ATORX) has granted Biotheus rights in Greater China (including Republic of China, Hong Kong, Taiwan and Macau) to an antibody from ALLIGATOR-GOLD for the creation of up to three bispecific molecules.

The license agreement includes an option for expanding the license to covering global rights, with news pushing Alligator’s shares up as much as 6.45% to 12.54 Swedish kronor today..

The deal includes an upfront of $1 million where Alligator receives $0.5 million upon signing and $0.5 million after six months of scientific-technical evaluation. Under the agreement Alligator is eligible to receive upfront, milestones and option fees of up to a total of around $142 million. This sum includes upfront and development milestones amounting to a total of approx. $52 million, global option fees up to a total of $90 million, plus royalties on future sales and share of sub-license revenue.