- Cerecor (NASDAQ:CERC) announces that it has entered into an exclusive license agreement with Sanford Burnham Prebys for the worldwide development and commercialization of an immune checkpoint program.
- Under the terms of the agreement, Sanford Burnham Prebys will receive an up-front payment and is also eligible to receive additional payments based on achievement of development, regulatory and commercial milestones, sales-based royalties and a share of sublicensing income.
- The acquisition further enhances the company’s development pipeline of novel biologics that address immunology and immuno-oncology targets.
- Cerecor also announces that it has divested its non-core neurology pipeline assets (compounds used in CERC-301 and the COMTi platform, including CERC-406) to Alto Neuroscience and ES Therapeutics, respectively.