BRIEF—Cyprium and Sentynl enter asset purchase deal
24 February 2021
Fortress Biotech partner company, Cyprium Therapeutics, and Sentynl Therapeutics, a USA-based specialty pharma company owned by the India’s Zydus Group, today announced the execution of an asset purchase agreement to commit development funding for and acquire Cyprium’s proprietary rights to CUTX-101, its copper histidinate product candidate that has the potential to be the first Food and Drug Administration-approved treatment for Menkes disease.
Terms of the agreement include:
- Sentynl acquires CUTX-101, copper histidinate, for $20 million in upfront and regulatory milestone payments through New Drug Application (NDA) approval, as well as potential sales milestones plus royalties;
- Cyprium will retain 100% ownership over any FDA priority review voucher that may be issued at NDA approval for CUTX-101; and
- Rolling submission of NDA to the FDA for CUTX-101 is on track to begin in the third quarter of 2021 and to be completed during the fourth quarter of 2021.
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