Sonnet BioTherapeutics Holdings ( (SONN) ) has issued an update.
Sonnet BioTherapeutics Holdings, Inc. has partnered with Alkem Laboratories Limited to advance the development and commercialization of SON-080, a treatment for diabetic peripheral neuropathy (DPN) in India. This collaboration includes an upfront payment of $1 million to Sonnet, with the potential for an additional $1 million based on developmental milestones. Moreover, Sonnet will receive royalties from the net sales of the product. Alkem will handle clinical trials and regulatory processes in India, with Sonnet retaining the right to use the clinical data for partnerships outside India. The deal taps into a growing Indian market for DPN treatments, which is expected to more than double by 2030.
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