Ferring in up to 76 million euro deal with TxCell for IBD drug Ovasave

French biotech firm TxCell SA and privately-held Switzerland-headquartered Ferring International have signed a collaboration, option, development and license agreement potentially worth up to 76 million euros ($105 million) plus royalties subject to the achievement of milestones.

In the agreement, venture capital backed TxCell has granted Ferring an option to acquire an exclusive worldwide license for the development, manufacture and marketing of TxCell’s lead candidate Ovasave for the treatment of irritable bowel disease (IBD), including Crohn's disease and ulcerative colitis.

Details of financial terms