VBL Therapeutics Announces New Milestone Event in the VB-201 Collaboration for Veterinary Use
Vascular Biogenics Ltd. - Ordinary Shares (VBLT)
Last vascular biogenics ltd. - ordinary shares earnings: 11/14 07:00 am
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Source: GlobeNewswire
TEL AVIV, Israel, April 06, 2020 (GLOBE NEWSWIRE) -- VBL Therapeutics (Nasdaq: VBLT), announced today that it has reached a milestone event under its collaborative agreement with a world-leading European animal health company, evaluating use of VB-201 for veterinary applications. Upon reaching this milestone, VBL is entitled to receive an undisclosed cash payment. The exclusive strategic agreement was signed in March 2019, and provides the global animal health company with an option to license VB-201, a proprietary anti-inflammatory molecule, for veterinary use. Upon exercising the option to license, VBL is entitled to receive additional milestones and royalties, which may exceed €50 million. VBL retains worldwide rights for the use of VB-201 for the treatment of humans. About VB-201VBL Therapeutics has developed the lecinoxoids, a novel class of orally-available anti-inflammatory small molecules. Lecinoxoids mimic the structure of native phospholipid molecules that regulate the
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