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Diagnostics developer Cizzle Biotechnology said it had completed the signing of a royalty sharing agreement with St George Street Capital, the UK-based biomedical charity.
On 22 June 2021, Cizzle Biotechnology signed a memorandum of understanding with St George Street Capital to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of St George Street's therapeutic asset AZD1656 of up to £5 million, plus potentially further payments from the use of a companion diagnostic.
The full commercial contract in relation to this had now been entered into, following the announcement on 9 September 2021 of the 'encouraging clinical trial results from SGSC's ARCADIA trial,' the company said.
Under the full commercial contract entered into, in consideration of the potential future royalty stream from the commercialisation of AZD1656, Cizzle Biotechnology would pay £135,000 to SGSC.