Led by San Diego-based Corporate partner Christian Salaman, Pillsbury represented Sentynl Therapeutics, a USA-based specialty pharma company owned by the India’s Zydus Group, in an agreement to acquire Cyprium Therapeutics’ proprietary rights to CUTX-101, its copper histidinate product candidate for the treatment of Menkes disease.
Sentynl will acquire CUTX-101 for $20 million in upfront and regulatory milestone payments through NDA approval, as well as potential sales milestones plus royalties.
Cyprium will retain development responsibility of CUTX-101 through approval of the NDA and the U.S. FDA. Sentynl will be responsible for commercialization of CUTX-101 as well as progressing newborn screening activities. Continued development of CUTX-101 will be overseen by a Joint Steering Committee consisting of representatives from Cyprium and Sentynl.
Read more about the transaction here.
Corporate special counsel Mustapha Parekh assisted Salaman in the transaction.