(RTTNews) - Biopharmaceutical company F-star Therapeutics, Inc. (FSTX), operating through its subsidiary, F-star Therapeutics Ltd., announced Wednesday that it has entered into a license agreement with Japan's Takeda Pharmaceutical Co. Ltd. (TAK) to develop a bispecific antibody.
Under the terms of the agreement, F-star will grant Takeda a worldwide, exclusive royalty-bearing license to research, develop, and commercialize a bispecific antibody against an immuno-oncology target using F-star's proprietary Fcab and mAb2 platforms.
Takeda will be responsible for all research, development, and commercialization activities under the agreement. F-star will receive an upfront license fee of $1 million.
F-star is also eligible to receive future development and commercialization milestone payments up to approximately $40 million over the course of the agreement if all milestones are achieved, plus single-digit percentage royalties on annual net sales.
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