Grifols enters R&D agreement with Selagine

Selagine announced that it has entered into a research, development and sublicense agreement with Grifols for the development and commercialization of immunoglobulin eye drops for dry eye disease. Under the agreement, Selagine will receive an upfront payment and annual collaboration fee. In addition, Grifols has committed to fund the development of immunoglobulin eye drops through FDA approval, which will be managed collaboratively by Grifols and Selagine, including the clinical, manufacturing and regulatory activities required for FDA approval for dry eye disease indication. Upon commercialization, Selagine will receive tiered royalties on net sales and milestone payments upon achievement of certain annual sales thresholds. Selagine will share a part of the royalties with UIC.