(RTTNews) - Theriva Biologics, Inc. (TOVX) has entered into an exclusive worldwide license agreement with Rasayana Therapeutics for the development and commercialization of SYN-020, an oral recombinant intestinal alkaline phosphatase enzyme.
Under the terms of the deal, Theriva received a $300,000 upfront payment and is eligible for up to $38M in development, regulatory, and sales milestones along with tiered single-digit royalties on net product sales.
Rasayana will assume full responsibility and costs for advancing SYN-020 through clinical development and commercialization.
SYN-020 is designed to restore intestinal barrier function and reduce systemic inflammation by targeting gut-organ axis biology. The candidate has potential applications across multiple indications, including chronic inflammatory and metabolic diseases.
Theriva, a clinical-stage company focused on cancer and related diseases, has been streamlining its portfolio to prioritize oncology programs while out-licensing assets like SYN-020 to partners with complementary expertise. Rasayana, a privately held biotech, specializes in gut-targeted medicines and will lead the next phase of SYN-020's development.
TOVX has traded between $0.17 and $1.75 over the past year. The stock closed Wednesday's trading at $0.19, up 6.25%. In pre-market trading on Thursday, TOVX is up over 12% at $0.21.
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