Business
Kalytera Announces Engagement of Echelon Wealth Partners to Assist with Review of Potential Out-License Opportunities for Commercial Rights to GVHD Products
Kalytera Announces Engagement of Echelon Wealth Partners to Assist with Review of Potential Out-License Opportunities for Commercial Rights to GVHD Products.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\nSAN FRANCISCO and TEL AVIV, Israel, May 21, 2019 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTCQB: KALTF) (the \"Company\" or \"Kalytera\") has engaged Echelon Wealth Partners to determine the value, on a risk-adjusted basis, of its cannabidiol (\"CBD\") therapeutic products for the prevention and treatment of graft versus host disease (\"GVHD\"), and to assist with the review of potential out-licensing opportunities for the commercial rights to these products.\n Kalytera has recently received unsolicited inquiries from companies interested in the rights to Kalytera’s GVHD products, and, in response to these inquiries, Kalytera’s board of directors approved the engagement of Echelon.\"As previously discussed, the business strategy we are pursuing for our GVHD products is to out-license the commercial rights for these products after we have completed the ongoing Phase 2 study in prevention of GVHD,\" stated Robert Farrell, President and CEO of Kalytera. \"Consistent with this strategy, and based on the fact that we have already received unsolicited inquiries regarding the rights to these products, we have chosen to engage Echelon to determine the current risk adjusted value of these products, and to assist us in managing the process for identifying the optimum corporate partner or partners who may assist with some or all further costs for development of these products, such as the costs for Phase 3 clinical testing. Echelon will also assist Kalytera in evaluating any consideration that may be received by Kalytera for the commercial rights to its GVHD products, such as up-front license fees, and/or milestone payments and royalties.”There can be no assurance that the review of potential out-licensing or other opportunities with respect to the Company’s GVHD products will result in a transaction or any proceeds or other consideration.  Any potential transaction or other opportunity will be evaluated by Kalytera’s Board of Directors. The Company does not intend to discuss developments with respect to the review process unless a transaction is approved, or further disclosure becomes appropriate.Kalytera intends to allocate any up-front consideration received in connection with any successful out-license or other transaction in respect of its GVHD program to research and d...