Juvenescence returns Sulforadex rights to Evgen
Shares of UK clinical stage drug development company Evgen Pharma (AIM: EVG) were down more than 8% at 2.94 pence mid-morning, after it revealed that JuvLife Ltd, a division of Juvenescence, has terminated the patent and know-how license agreement for Evgen's Sulforadex sulforaphane stabilization technology.
The exclusive rights will be returned in the fourth quarter of 2023. The upfront payment already received is non-refundable, Evgen noted.
Evgen chief executive Dr Huw Jones commented: "JuvLife has undergone a business re-organization and re-prioritization exercise. The return of these rights enables us to focus on higher value partnerships for pharmaceutical use of our Sulforadex technology, such as the licensing deal concluded with Stalicla in late 2022 and our own oncology programs.
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