Saiba Animal Health has announced completion of a license agreement with pharmaceutical company Boehringer Ingelheim. The partnership between the two companies, which began in December 2020, included an option to take an exclusive license to market and develop a Saiba product candidate. The German pharmaceutical company has now exercised this option.
In a press release, Saiba explains that the license execution will trigger an upfront payment under the terms of the agreement. The University of Zurich spin-off plans to invest this in developing its technology and other pipeline candidates.
Saiba CEO Dr Gary T. Jennings describes the execution as a “significant milestone”, which is “driven by a convincing preclinical data-set generated by Boehringer Ingelheim’s and Saiba Animal Health’s R&D teams.” The German company’s continued investment in the product candidate “acknowledges the potential for our platform technology and pipeline projects to be translated into cost effective therapies for companion animals.”
This is the second license agreement that Saiba has executed for one of its product candidates this year. According to information provided by the company, Benchmark Holdings PLC exercised an option in January on the basis of a partnership agreement initiated in 2019, and triggered “ a significant upfront payment”. ce/mm
Related news
Meet with an expansion expert
Our services are free of charge and include:
- Introduction to key contacts in industry, academia, and government
- Advice on regulatory framework, taxes, labor, market, and setting up a company
- Custom-made fact-finding visits, including office and co-working space