XL-protein has announced that it has entered into a worldwide License, Development and Commercialisation Agreement with Grifols for a long-acting biopharmaceutical product.
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Teamwork concept.
Under this collaboration, XL-protein will leverage its proprietary, clinical-stage PASylation technology to extend the circulation of Grifols therapeutics, paving the way for a more effective and long-lasting treatment. XL-protein will actively support preclinical development activities while Grifols will be entitled to further developing as well as manufacturing and marketing the PASylated-enhanced biologic.
Under the terms of the agreement, XL-protein will receive an upfront payment as well as payments for achievement of preclinical, clinical, regulatory and commercial milestones. Furthermore, XL-protein will receive tiered royalties on sales from marketed therapeutics resulting from the collaboration. Grifols will have worldwide exclusive marketing rights under the agreement. Further financial terms have not been disclosed.
"Grifols continues to innovate across its therapeutic portfolio to develop new treatments and enhancing existing ones for patients", said Dr. Jörg Schüttrumpf, Grifols chief scientific innovation officer. "We look forward to collaborating with XL-protein and combining our advanced scientific efforts in this leading initiative."