Paragon Therapeutics Granted Spyre Therapeutics An Exclusive License To Develop, Manufacture, And Commercialize Certain Antibodies And Products Targeting IL-23 For Irritable Bowel Disease, Paragon Will Receive $22M As Milestone Payments And Further Milestone Payment Of $2.5M Upon The First Dosing Of A Human Patient In A Phase 1 Trial-Filing
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Paragon Therapeutics has granted Spyre Therapeutics an exclusive license to develop, manufacture, and commercialize antibodies targeting IL-23 for irritable bowel disease. Paragon will receive up to $22 million in milestone payments, including $2.5 million upon the first human dosing in a Phase 1 trial.
October 15, 2024 | 10:41 am
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Spyre Therapeutics has secured an exclusive license from Paragon Therapeutics to develop IL-23 targeting antibodies for irritable bowel disease, with potential milestone payments up to $22 million.
The exclusive license agreement allows Spyre Therapeutics to develop and commercialize a potentially lucrative product in the IBD market. The milestone payments and royalties indicate a significant financial opportunity, likely boosting investor confidence and positively impacting SYRE's stock price.
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