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An announcement from Cantargia AB ( (SE:CANTA) ) is now available.
Cantargia AB has completed the sale of its CAN10 anti-IL1RAP antibody program to Otsuka Pharmaceutical Co., Ltd. for an upfront payment of USD 33 million. The agreement could potentially be worth up to USD 613 million, including milestone payments and royalties. Otsuka will handle the development, regulatory approvals, manufacturing, and commercialization of CAN10, which targets inflammatory and autoimmune diseases. This acquisition positions Cantargia to benefit from Otsuka’s resources and expertise, potentially enhancing the development and market reach of CAN10.
More about Cantargia AB
Cantargia AB is a biotechnology company focused on developing antibody-based treatments for life-threatening diseases, particularly through its platform based on the IL1RAP protein. This platform is involved in various cancer forms and inflammatory diseases. The company’s oncology program includes the antibody nadunolimab (CAN04), which is being clinically studied in combination with chemotherapy for pancreatic cancer, non-small cell lung cancer, and triple-negative breast cancer. Cantargia is listed on Nasdaq Stockholm.
Average Trading Volume: 6,491,959
Technical Sentiment Signal: Hold
Current Market Cap: SEK643.9M
For an in-depth examination of CANTA stock, go to TipRanks’ Overview page.