(RTTNews) - Wednesday, Protalix BioTherapeutics, Inc. (PLX) announced a collaboration and option agreement with Secarna Pharmaceuticals GmbH & Co. KG, a Germany-based biopharmaceutical company, to discover novel antisense oligonucleotide or ASO therapies against multiple targets for rare renal indications.
Under the agreement, Protalix has selected pharmaceutical targets with fundamental biological roles in rare renal indications, whereas Secarna will utilize its proprietary AI-empowered oligonucleotide discovery and development platform called OligoCreator to design and profile ASO candidates against those targets.
As per the terms of the deal, Secarna has granted Protalix an option to an exclusive, worldwide milestone and royalty bearing license to further develop, market and commercialize therapeutic programs.
Backed by their combined expertise, the companies aim to advance the programs from preclinical stage to clinical trials.
In the pre-market hours, PLX is trading at $1.85, up 2.78 percent on the New York Stock Exchange.
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