Phosphagenics Limited
(ASX:POH) has signed a license option agreement for its TPM/Oxymorphone patch, as well as a strategic R&D alliance with one of Japan’s largest healthcare companies.
The Japanese healthcare company, which cannot be disclosed, has entered into an agreement for an exclusive 6 month option to obtain an exclusive license to the patch.
Under the agreement, Phosphagenics will receive an upfront option payment and the Japanese company will undertake pre-specified activities to confirm the development path for the product in Japan.
Phosphagenics reported a net loss of $20.12 million at 31 December 2015.
