What is the agreement that Reddy Labs has signed with Citius Pharma?
Answer
Answer
Reddy Labs signed an agreement Citius Pharmaceuticals of the US to sell its rights to an anti-cancer agent. Reddy Labs will sell all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) along with certain related assets to Citius Pharma of the US. Reddy Labs will be paid $40 million upfront with progress-based milestone payments of up to $70 million for additional approvals over a period of time.
It may be recollected that Reddy Labs had acquired the exclusive global rights to the anti-cancer agent E7777 from Eisai Co way back in 2016.