Under the agreement, BioLineRx acquires all rights to develop, sub-license and commercialise the compound.
BioLineRx will cover all future costs of the program. Santhera will receive 22% to 25% of all BioLineRx’s sub-licensing income or royalties on future sales by BioLineRx.
Santhera CEO Klaus Schollmeier said that BioLineRx is the best partner for development of their selective, first-in-class MC-4R antagonists based on their excellent track record in developing similar stage assets to proof-of-concept in man.
The agreement with BioLineRx fits well with Santhera’s strategy to focus on its core late stage or marketed assets Catena, fipamezole and omigapil," Schollmeier said.