Business
Randox Licence and Royalty Agreement
Randox Licence and Royalty Agreement.
About this update from Coiled Therapeutics Plc
[{"type":"text","content":"\n \n \n 20 February 2023\n \n \n \n Roquefort Therapeutics plc\n \n \n \n (\"Roquefort Therapeutics\" or the \"Company\")\n \n \n \n \n \n \n \n \n Randox Licence and Royalty Agreement\n \n \n \n \n Agreement helps validate and drive Midkine programs\n \n \n \n \n \n \n Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF),\n the Main Market listed biotech company focused on\n developing first in class medicines in the high value and high growth oncology market\n , is pleased to announce that it has signed an exclusive licence and royalty agreement, for the field of medical diagnostics only, with a leading international diagnostics company, Randox Laboratories Ltd (\"Randox\"), in relation to its Midkine antibody portfolio (the \"Randox Licence Agreement\").\n \n \n \n \n \n In accordance with the terms of the Randox Licence Agreement, Roquefort Therapeutics has granted an exclusive worldwide licence (excluding Japan,) for a period of ten years to utilise its Midkine antibodies in the field of medical diagnostics. Randox and Roquefort Therapeutics will engage in collaborative research programs to identify new cancer diagnostics that will be treatable with the Company's Midkine therapeutics.\n \n \n \n \n \n The commercial terms of the Randox Licencing Agreement remain confidential; however, Roquefort Therapeutics estimates that the total overall transaction value to the Company over the life of the agreement is in excess of £5 million.\n \n \n \n \n \n The partnership with Randox focuses on medical diagnostics to detect the cancers that express Midkine, a heparin-binding protein which is highly expressed in cancer, prevents tumour cell death and promotes metastatic spread and resistance to treatment. This licence agreement validates Roquefort Therapeutics' strategy of targeting Midkine and, by partnering with a leading diagnostics company producing the diagnostics which are crucial for clinical trials, the Company can remain focused on developing first in class oncology medicines. \n \n \n \n \n \n Detecting cancer early significantly enhances the survival chances of patients with the most common cancers. The Randox Licence Agreement is important for future cancer treatment because identifying the patients with cancers that express Midkine is highly synergistic with the development of fir...