Coronado Biosciences gets rights from Dr Falk and OvaMed for TSO

US biopharma company Coronado Biosciences (Nasdaq: CNDO) has signed a collaboration agreement with German drugmakers Dr Falk Pharma GmbH and OvaMed GmbH for the development of TSO (Trichuris suis ova or CNDO-201) for Crohn's disease.

Under the accord, Falk granted Coronado exclusive rights and licenses under certain of its patent rights, preclinical data and clinical data from Falk's clinical trials of TSO in Crohn's disease, including an ongoing Phase II studies, for use in North America, South America and Japan. Coronado granted Falk exclusive rights and licenses to data from Coronado's clinical trials of TSO in Crohn's disease for use in Europe. Under the deal, Coronado agreed to pay Falk a total of 5 million euros ($6.6 million) after receipt of certain preclinical and clinical data, all of which is estimated to be paid within 12 months, and a royalty of 1% of net sales of TSO.

Also, Coronado has licensed TSO, a novel, orally-administered, natural immunomodulator that regulates T-Cells and inflammatory cytokines, from OvaMed, the manufacturer of the product, in North America, South America and Japan. Falk has licensed TSO from OvaMed for gastroenterology indications in Europe.