Island Pharmaceuticals Ltd (AU:ILA) has released an update.
Island Pharmaceuticals Ltd has signed a binding Letter of Intent with BioCryst Pharmaceuticals to potentially acquire galidesivir, an antiviral drug effective against numerous RNA viruses. The Australian company has secured a 12-month exclusive option to conduct regulatory due diligence with the aim of fast-tracking the molecule’s market approval using the FDA’s Animal Rule. The deal aligns with Island’s strategy to diversify its pipeline and develop countermeasures against urgent viral diseases.
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