Evolva Concludes Licensing of EV-077 to Serodus
News Jan 07, 2014
Evolva Holding SA and Serodus ASA (Oslo, Norway) have announced that they have signed a final licensing agreement for EV-077, Evolva’s compound targeted at diabetic nephropathy (progressive kidney disease caused by diabetes).
A binding term sheet for this transaction was signed by both parties in October of this year.
The successful divestment enables further development of EV-077 to address unmet patient needs by an experienced and committed team. It is fully in line with Evolva's shift away from pharma and towards ingredients for health, wellness and nutrition.
Serodus aims to bring EV-077 further through clinical development and at a future time point decide whether Serodus or a partner will conduct the final clinical trials.
Evolva will be entitled to licensing payments including clinical and regulatory milestones as well as a single-digit royalty on sales.
If Serodus at a later stage out-licenses the compound, Evolva will receive up to 30% of Serodus’ total licensing income.