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Bioasis and Chiesi Group Announce Rare Diseases Strategic Alliance
Bioasis and Chiesi Group Announce Rare Diseases Strategic Alliance.
About this update from Bioasis Technologies Inc.
[{"type":"text","content":"\nBIOASIS TECHNOLOGIES INC. (“Bioasis”) (TSXV:BTI.V; OTCQB:BIOAF),a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 TM platform technology for the delivery of therapeutics across the blood-brain barrier (the “BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including rare genetic diseases, brain cancers, neurodegenerative diseases and pain, and Chiesi Global Rare Diseases, a business unit of Chiesi Group, an international research-focused healthcare Group, today announced that they have entered into a worldwide, exclusive licensing agreement for the xB3 BBB platform technology in treatment of rare diseases with a focus on four undisclosed lysosomal storage disorders (“LSDs”).\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200629005790/en/\n\nUnder the terms of the Research Collaboration and License Agreement (the “Agreement”), Chiesi Group will pay Bioasis an upfront payment of US$3 million. Bioasis may also be eligible to receive additional development, regulatory and commercial milestone payments of up to US$138 million, as well as additional royalties on net sales of licensed products, pending market approval. Chiesi Group will be responsible for all costs associated with research, development and commercialization of the four undisclosed LSD programs.\n\n\n“With this collaboration, we are taking our commitment to bringing innovative therapies to rare disease patients, including those living with LSDs, to an entirely new level,” said Giacomo Chiesi, Head of Chiesi Global Rare Diseases, a business unit of Chiesi Group. “The unique delivery method of their xB3 platform has the potential to overcome a significant challenge in the treatment of many neurological disorders, which is the ability to cross the blood brain barrier. We look forward to working closely with the Bioasis team in advancing several new LSD clinical development programs using this technology platform.”\n\n\n“We are very pleased to have entered into this agreement and excited to be working with Chiesi Group, a global company with a strong commitment to bringing innovative treatments to patients with LSDs,” said D...