Boston, MA 10/06/2014 (wallstreetpr) – According to reports, Bellicum Pharmaceuticals, Inc and Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) have decided to announce the reconstruction of their license agreement for cell-signaling technology of ARIA.
Insights of the matter:
As part of the reconstruction process, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) will get $50 million in exchange for a fully paid up license to cell-signaling technology. It will also get its stake in Bellicum Pharmaceuticals. The field of using this license and its scope were expanded by both the companies as part of the amendment.
As per the information, $50 million will not be paid in one installment. According to the terms and conditions of the revised agreement, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) will receive total $50 million in three installments. First installment of $15 million will be paid to it upon signing of the agreement. Second installment of $20 million will be paid by June 30, 2015, and last $15 million will be paid latest by June 30, 2016. The dates of last payment are not fixed as on fulfillment of certain conditions, the third installment may be paid in the fourth quarter of 2015.
Upon completion of the signing process of revised agreement, Bellicum will be able to use cell-signaling technology of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) in preparation of human cell therapies for all the diseases. It will be able to work on royalty- and milestone-free basis. The revised agreement will give it rights to use this technology in preparation of drugs for above-mentioned disease and sell them across the world. The new technology involves the usage of AP1903; a small molecule drug, to activate various cellular events including cell signaling. Bellicum is also working on the development of controllable chimeric-antigen receptor T-Cell, stem-cell transplant and cancer vaccine product candidates. All three of the above-mentioned products are been developed for using in a wide range of non-malignant genetic diseases and solid and blood tumor cancers.
