MELBOURNE, AUSTRALIA 28 June 2022: Arovella Therapeutics Ltd (ASX: ALA), a biotechnology company focused on developing its invariant Natural Killer T (iNKT) cell platform and its oral spray delivery technology to treat cancer and conditions that affect the central nervous system, announces that Strides Pharma Global Pte Ltd (Strides) has indicated its intention to cease the Development, Licence and Supply Agreement (Agreement) that was entered into 8 November 2018.
Strides cited a change in market conditions, which have made the project unviable from their perspective as their primary reason to cease the Agreement. Arovella has agreed to terminate the Agreement under the relevant provisions contained in the Agreement and the Company notes that there is no cost impact to Arovella or immediate impact on revenue streams.
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