Avata Biosciences Signs Co-Development and Licensing Agreement with Oceanus Bio for Exclusive Rights in Japan and Asia (Excluding China and India) for Novel Adult and Pediatric Oral Cannabidiol Therapies for Development in Epilepsy and Schizophrenia
Avata Biosciences Holdings Ltd (‘Avata’), a pioneering biopharmaceutical company specializing in neuroscience drug discovery and clinical development, today announced it has signed a co-development and licensing agreement with Oceanus Bio, Inc. for the exclusive rights to AVAT-021 and AVAT-022 in Japan and Asia, except in China and India. The agreement comprises $95m in co-development contributions, regulatory and sales milestone payments to Avata. A further double-digit royalty on sales is agreed for the term of the agreement.
