Roquefort Therapeutics leaps on news term sheet for licencing deal with PDC
Shares of UK immune-oncology company Roquefort Therapeutics (LSE: ROQ) rose almost 24% to 5.51 pence this morning, following the signing of a term sheet to out-license its Midkine antibody portfolio to Dubai-based PDC.
PDC is a leading MEA pharmaceutical research and development organization which has conducted over 150 clinical trials.
This is a strategic out-licencing deal in which Roquefort Therapeutics receives $10 million total initial consideration value and a guaranteed share of the trade sale proceeds on successful completion of Phase I clinical trials.
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