BRIEF-Sarepta and Summit enter into agreement for European rights to utrophin modulator pipeline

martes 4 de octubre de 2016 07:19 GYT

Oct 4 (Reuters) - Summit Therapeutics Plc :

* Summit receives $40 million upfront, with potential future ezutromid-related milestone payments totalling up to $522 million plus royalties

* Sarepta also receives option for Latin American rights

* As part of agreement, Sarepta also obtains an option to license latin american rights to Summit's utrophin modulator pipeline

* If Sarepta elects to exercise option for Latin American rights, co would be entitled to additional fees, milestones and royalties

* Sarepta and Summit to share research and development costs

* Sarepta also receives option for Latin American rights

* Sarepta Therapeutics and summit enter into exclusive license and collaboration agreement for european rights to summit's utrophin modulator pipeline for the treatment of duchenne muscular dystrophy

* Sarepta, co will share specified utrophin modulator-related research and development costs at a 45/55 pct split, respectively Source text for Eikon: Further company coverage: