Benzinga | Apr 22, 2021 09:04AM EDT

Aptorum Shares Are Trading Higher On Immunomodulators Agreement For Autoimmune, Oncology Indications

* Aptorum Group Ltd (NASDAQ: APM) has entered into a material transfer and option agreement with Yale University to evaluate a group of preclinical stage novel immunomodulators.

* Aptorum also obtained an exclusive option to in-license the novel immunomodulators and related intellectual property rights, including patent rights and know-how, based on licensing terms according to a binding term sheet incorporated into the Agreement.

* Under the arrangement, Aptorum will be responsible for assessing Yale's originally developed novel immunomodulators against lupus, arthritis, inflammatory bowel diseases, neurodegenerative diseases, or other oncology indications.

* Upon exercising its option to license, Aptorum will develop and commercialize one or more of these novel immunomodulators, as supported by Yale.

* Price Action: APM shares are up 4.9% at $2.59 in the premarket session on the last check Thursday.