Statera Biopharma president and CEO Michael K Handley said: “The strategic partnership with Lay Sciences has the potential to produce near term revenue.
“The agreement allows Statera the right to supply the products for the existing approved markets. Statera also receives the right to license and commercialise current and future products for other indications.”
As per the terms of the proposed deal, Lay Sciences would get an upfront payment consisting of both equity and cash and would also have the potential to receive royalties and milestones related to the development of IgY in gastrointestinal and upper respiratory indications.
Lay Sciences CEO Satish Chandran said: “Lay Sciences is pioneering a new generation of treatment and prophylaxis with proprietary formulations that protect IgY from gastric acids and proteases that allows for release of antibodies to targeted regions of the gut.
“We are excited to partner with Statera and believe oral polyclonal IgY antibodies allow for therapeutic intervention and for prophylaxis in a targeted manner that will enhance our ability to combat chronic, life-threatening diseases.”
Statera Biopharma is a clinical-stage biopharmaceutical company developing novel immunotherapies targeting autoimmune, neutropenia/anemia, emerging viruses and cancers based on a platform intended to rebalance the body’s immune system and restore homeostasis.
Making use of patent pending and proprietary technologies owned by Lay Sciences or licensed from its partnering firms, the company develops and provides products and devices focused on treating and preventing diseases of the GI tract.