Sun Pharma Advanced Research Company Ltd (SPARC) informed the stock exchanges that it has entered into a binding Letter of Intent (LOI) with the University of California, San Francisco (UCSF), and Tiller Therapeutics Inc.
This agreement focuses on licensing SPARC’s rights in a pre-clinical oncology asset and its associated joint intellectual property (IP), developed in collaboration with UCSF. The move will enable Tiller to take charge of the asset’s development and commercialisation.
Under the LOI, SPARC will secure a 55% equity stake in Tiller Therapeutics. This equity will be divided into two tranches: 45% upon signing the license agreement and the remaining 10% upon achieving specific milestones or within six months of the agreement’s execution. The detailed terms of the license, including development rights and financial considerations, will be finalised in the upcoming licensing agreement.
This strategic licensing marks an important step for SPARC in advancing innovative oncology solutions while creating a pathway for monetising its intellectual property.
Commenting on this development, the CEO of SPARC, Anil Raghavan, stated, “We are excited about the opportunity to partner with Tiller to advance the potential treatment of solid tumours affecting millions each year, with no current cure.”
Sun Pharma Advanced Research Company Ltd is a pharmaceutical company that focuses on constantly improving standards of care for patients globally via innovation in therapeutics and delivery.
On December 17, 2024, SPARC share price (NSE: SPARC) opened at ₹231.80, touching the day’s low at ₹229.20, as of 9:33 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 17, 2024, 9:53 AM IST
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