Panbela Therapeutics To Receive A Total Up To $9.5M For Divestiture Of Assets Within Eflornithine Pediatric Neuroblastoma Program To U.S. WorldMeds
Portfolio Pulse from Benzinga Newsdesk
Panbela Therapeutics (NASDAQ:PBLA) has divested certain assets in its eflornithine pediatric neuroblastoma program to US WorldMeds, a Kentucky-based specialty pharmaceutical company. Under the agreement, Panbela is entitled to receive up to approximately $9.5 million non-dilutive funding in exchange for the sale of these assets. Payments will be made upon USWM's successful completion of milestones related to eflornithine's clinical development, regulatory approval, and commercial sales.
July 19, 2023 | 12:22 pm
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Panbela Therapeutics has divested assets in its eflornithine pediatric neuroblastoma program to US WorldMeds for up to $9.5M. This could provide Panbela with significant non-dilutive funding.
The divestiture of assets to US WorldMeds could provide Panbela Therapeutics with significant non-dilutive funding, which could be used to further its other programs and initiatives. This could potentially increase the company's value and attractiveness to investors, leading to a positive impact on its stock price.
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