vTv Therapeutics out-licenses DE4 inhibitor in China and other Pacific Rim territories
Shares of vTv Therapeutics (Nasdaq:VTVT) rocketed as much as 46% to $2.43 in early trading, and were still up more than 30% to $2.17 by mid-morning today after it announced an exclusive licensing agreement with Newsoara Biopharma.
The deal provides rights for Newsoara to develop and commercialize vTv Therapeutics’ PDE4 Inhibitor program in mainland China, Hong Kong, Macau, Taiwan and other Pacific Rim countries covering Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar, Cambodia, Laos, Brunei and South Korea.
Under the terms of the deal, vTv Therapeutics will receive an undisclosed upfront payment and will be eligible for future development and commercialization milestones as well as royalties on sales of approved products. Newsoara will develop HPP737 in the covered territories for respiratory and other inflammatory diseases.
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