Island Pharmaceuticals Ltd (AU:ILA) has released an update.
Island Pharmaceuticals Ltd has announced the initiation of a non-binding agreement with BioCryst Pharmaceuticals to potentially acquire the antiviral molecule, galidesivir, which has shown promise against several viruses with high unmet medical needs. Island has a one-year option to acquire the program, with no immediate extra funding required, supporting their pipeline diversification strategy. The deal includes staged payments upon development milestones and sales royalties, with the company planning to execute a definitive agreement by the end of September 2024.
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