Canada's Thallion Pharmaceuticals has inked a $130 million licensing deal with LFB Technologies covering the further development and commercialization of a new treatment for Shiga toxin-producing E. coli infections.
In the deal, LFB gains the rights to a slate of markets for Shigamabs including Europe and South America. Thallion retains the crucial North American market rights. And Montreal-based Thallion gains a small upfront of 1.5 million euros, enough funding to cover virtually all the additional development work on the therapy as well as milestone payments.
"This transaction transforms our company into a focused Shigamabs play with a strong and stable balance sheet and a quality partner with extensive experience in both the development of monoclonal antibodies and the commercialization of hospital-based products that treat rare diseases," said Dr. Allan Mandelzys, the CEO of Thallion. "The collaborative nature of this agreement establishes joint committees comprising members from both organizations that will oversee the development and commercialization of Shigamabs. Together, we plan to put Shigamabs back in the clinic and initiate a Phase II study in South America during the second half of this year."
- check out Thallion's release
- here's the story from Dow Jones