Evecxia has expanded its previous license agreement with Duke University to include exclusive, world-wide rights to develop and commercialize methods of improving the bioavailability of 5-hydroxytryptophan (5-HTP). The original license agreement, executed in December 2015, covers issued patents and pending patent applications for slow-release 5-HTP in combination with pro-serotonergic compounds.
“This expanded license agreement with Duke University broadens the patent portfolio and potentially provides additional patent term, scope of protection, geographic coverage, and years of exclusivity to EVX-101, our lead product candidate,” said John Kaiser, CEO of Evecxia. “We appreciate Duke’s collaborative spirit and their trust in Evecxia to develop and commercialize EVX-101,” Mr. Kaiser added.
Under the terms of the agreement, Evecxia will immediately assume full development and commercialization of EVX-101 and any other product candidates emanating from the entire license agreement with Duke. In addition to an equity stake in Evecxia, Duke University will receive an upfront licensing fee as well as milestone and low single-digit royalty payments.