Sun Pharma Advanced Research Company Ltd. (SPARC) has announced the signing of a binding Letter of Intent (LOI) with the University of California, San Francisco (UCSF) and Tiller Therapeutics Inc. to license its rights in a pre-clinical oncology asset and associated intellectual property (IP).
Under the agreement, SPARC will receive a 55% equity stake in Tiller Therapeutics. The equity will be vested in two tranches: 45% upon execution of the license agreement and the remaining 10% upon achieving specific milestones or within six months of the license execution.
The oncology asset has been developed over a three-year partnership between SPARC and UCSF, marking a significant step in advancing treatments for solid tumors.
Anil Raghavan, CEO of SPARC, stated, “We are excited about the opportunity to partner with Tiller to advance potential treatment of solid tumors affecting millions each year, with no current cure.”
SPARC remains focused on innovation in therapeutics and delivery, aiming to improve patient care standards globally.
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