Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS), a biopharmaceutical company focused on the discovery and development of novel anti-infective therapies to treat life-threatening bacterial infections, announced today that it has consummated a licensing agreement with Serum AMR, an affiliate of Serum International BV (SIBV) and the Serum Institute of India, Ltd. The agreement grants Serum AMR a license to multiple programs from Aridis for certain limited territories and access the Company’s MabIgX® platform technology for asset identification and selection.
As part of the agreement, Aridis will receive the remaining upfront cash payment of $10 million, which is in addition to the $5 million that was initially received when the companies signed an option agreement on July 30, 2019. Moving forward, Aridis is eligible for future milestone payments for achieving product development and commercial objectives, along with royalties on net sales.
“Establishing this licensing relationship with a leading monoclonal antibody developer with specific commercial expertise in emerging markets is an important milestone for the company as we continue to advance our pipeline of assets and identify new opportunities from the MabIgX® platform,” commented Vu Truong, Ph.D., Chief Executive Officer of Aridis Pharmaceuticals.