Molecure and Ocean Biomedical collaborate on selective YKL-40 inhibitors

Polish clinical-stage biotech Molecure (WSE: MOC)has signed an exclusive licensing agreement with Ocean Biomedical (Nasdaq: OCEA) based in Providence, Rhode Island, USA.

The agreement concerns the development and commercialization of the selective YKL-40 inhibitor program, including the lead molecule OAT-3912, which Molecure has developed to early pre-clinical stage, as well as a second patent for a primary screening test enabling continuation of a continued discovery and development of novel YKL-40 modulators.

The deal provides Ocean Biomedical with exclusive rights to further research, develop, manufacture and commercialize Molecure’s OAT-3912 and other selective YKL-40 inhibitors worldwide and for all indications. Despite an initial 5% hike, Molecure’s shares dipped 4% to 10.90 zloty by mid-afternoon.