Benzinga | Mar 29, 2021 09:39AM EDT

Cerecor Inks New Global License Agreement With Kyowa Kirin For CERC-002

Cerecor Inc's (NASDAQ: CERC) wholly-owned subsidiary, Aevi Genomic Medicine LLC, has entered into an expanded agreement with Kyowa Kirin Co Ltd (OTC:KYKOF) for exclusive worldwide rights to CERC-002 for all indications, including severe pediatric-onset inflammatory bowel disease and ARDS (including COVID-19 ARDS).

* Under the terms of the agreement, Cerecor will receive exclusive rights for the development, manufacturing, and commercialization of the antibody for all indications worldwide, including the U.S., Europe, and Japan.

* Kyowa Kirin can retain the rights in Japan and receive an up-front payment from Cerecor. It is also eligible to receive additional milestone payments and sales-based royalties, and a share of sublicensing income.

* CERC-002 is a fully human anti-LIGHT or tumor necrosis factor superfamily member 14 (TNFSF14) monoclonal antibody licensed from Kyowa Kirin.

* Price Action: CERC shares are trading 2.68% at $3.06 in premarket on the last check Monday.

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