Gilead Licenses Durect's Saber Technology for Injectable HIV Product
July 22 2019 - 9:08AM
Dow Jones News
By Colin Kellaher
Durect Corp. (DRRX) on Monday said it granted Gilead Sciences
Inc. (GILD) the exclusive worldwide rights to develop and
commercialize an injectable HIV product using Durect's Saber
technology.
The Cupertino, Calif., biopharmaceutical company said it will
receive an upfront payment of $25 million, along with up to $145
million in potential milestone payments and royalties on product
sales.
Gilead, based in Foster City, Calif., also received exclusive
access to the Saber platform for HIV and hepatitis B virus and the
exclusive option to license additional Saber-based products
directed to HIV and hepatitis B.
Durect said it will receive an additional $150 million in
milestones per product, as well as royalties on sales.
Shares of Durect, which closed Friday at 72.7 cents, jumped
nearly 40% in premarket trading Monday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 22, 2019 08:53 ET (12:53 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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