Island pharmaceuticals (ILA: $0.066) has signed a non-binding term sheet with antiviral drug developer BioCryst to acquire rights to the compound galidesivir for the treatment of a number of dangerous viruses, including Ebola, Zika and Marburg viruses.
The compound has a known safety profile and has shown activity against these viruses. Two of the attractive features relate to the commercialisation pathway. The program is eligible to receive a Priority Review Voucher if the compound gains approval (valued at approximately US$100 million), and the compound could be developed under the 'FDA Animal Rule' which means that clinical studies (in people) are unethical and therefore not required.
Island has a 12 month option to acquire the asset.
Bioshares recommendation: Not Formally Covered
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