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Biodexa Pharmaceuticals | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Apr 26 08:48
Summary by Moomoo AI
Biodexa Pharmaceuticals PLC, a clinical stage biopharmaceutical company, announced on April 26, 2024, that it has entered into an exclusive license and collaboration agreement with Emtora Biosciences for the worldwide rights to eRapa™, an oral formulation of rapamycin for various human diseases. The agreement grants Biodexa exclusive, worldwide rights to develop, manufacture, and commercialize eRapa™. As part of the agreement, Biodexa made an upfront payment in the form of American Depositary Shares to Emtora and will be responsible for up to $41.5 million in sales milestones, as well as tiered royalties on net sales and other fees. Additionally, a promissory note of $250,000 issued by Emtora to Biodexa will be forgiven, and Biodexa will make a $500,000 cash payment to Emtora for cancer research funding...Show More
Biodexa Pharmaceuticals PLC, a clinical stage biopharmaceutical company, announced on April 26, 2024, that it has entered into an exclusive license and collaboration agreement with Emtora Biosciences for the worldwide rights to eRapa™, an oral formulation of rapamycin for various human diseases. The agreement grants Biodexa exclusive, worldwide rights to develop, manufacture, and commercialize eRapa™. As part of the agreement, Biodexa made an upfront payment in the form of American Depositary Shares to Emtora and will be responsible for up to $41.5 million in sales milestones, as well as tiered royalties on net sales and other fees. Additionally, a promissory note of $250,000 issued by Emtora to Biodexa will be forgiven, and Biodexa will make a $500,000 cash payment to Emtora for cancer research funding. The agreement also includes an option for Biodexa to acquire all capital stock of Emtora after filing a New Drug Application with the FDA. eRapa™ is currently in Phase 3 trials for the treatment of Familial Adenomatous Polyposis (FAP) and has received $17 million in non-dilutive grant funding for this pivotal trial. The drug also has potential for treating bladder and prostate cancers, with ongoing studies supported by grants from the National Cancer Institute.

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