BioNTech, Ryvu Therapeutics Join Forces For Immuno-Modulatory Candidates - BioNTech (NASDAQ:BNTX)

BioNTech SE BNTX and Ryvu Therapeutics S.A. have entered into a multi-target research collaboration consisting of two parts: BioNTech will receive a global, exclusive license to develop and commercialize Ryvu's STING agonist portfolio as standalone small molecules, including as monotherapy and in therapeutic combinations.
In addition, BioNTech and Ryvu will jointly undertake drug discovery and research projects to develop multiple small molecule programs directed at exclusive targets selected by BioNTech, primarily focused on immune modulation within oncology, with potential applications in other disease areas.
Related: BioNTech Plans To Set Up Singapore-Based mRNA Plant By End Of 2023.
BioNTech can license these programs' global development and commercialization rights at the development candidate stage.
Under the terms of the agreement, BioNTech will pay Ryvu an upfront fee of €20 million in exchange for certain rights to Ryvu's STING agonist portfolio as standalone small molecules and for certain rights and options to license multiple small molecule programs as part of a multi-target research collaboration. In addition,
BioNTech has committed to making an equity investment of €20 million.
BioNTech will fund all discovery, research, and development activities under the multi-target research collaboration, including Ryvu's discovery and research activities.
Ryvu will be eligible to receive success-based development, regulatory, and commercialization milestone payments and low single-digit royalties on the annual net sales.
Price Action: BNTX shares are up 0.05% at $163.69 during the premarket session on the last check Wednesday.

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