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The latest announcement is out from Cantargia AB ( (SE:CANTA) ).
Cantargia AB has entered into an agreement with Otsuka Pharmaceutical for the acquisition of its CAN10 IL1RAP immunology program. This transaction involves an upfront payment of USD 33 million to Cantargia, with potential additional milestone payments up to USD 580 million. Otsuka will take over the global development and commercialization of CAN10, which is currently in phase 1 clinical trials. This deal highlights Cantargia’s strong position in IL1RAP biology and allows the company to focus on its oncology and other disease programs, while Otsuka expands its autoimmune research pipeline.
More about Cantargia AB
Cantargia AB is a biotechnology company that develops antibody-based treatments for life-threatening diseases. It has established a platform based on the protein IL1RAP, which is involved in various cancer forms and inflammatory diseases. Cantargia’s oncology program focuses on pancreatic cancer, non-small cell lung cancer, and triple-negative breast cancer, while its CAN10 program targets autoimmune and inflammatory diseases.
Average Trading Volume: 1,004,086
Current Market Cap: SEK304.8M
See more insights into CANTA stock on TipRanks’ Stock Analysis page.