Benzinga | Jul 12, 2021 10:59AM EDT

OPKO Health, CAMP4 Therapeutics Ink Oligonucleotide Platform With Focus On Drug-Resistant Epilepsy

* OPKO Health Inc (NASDAQ:OPK) has entered into an exclusive worldwide agreement with privately-held CAMP4 Therapeutics Corporation (CAMP4) to develop, manufacture, and commercialize therapeutics utilizing the AntagoNAT technology.

* AntagoNATs are oligonucleotide compounds that target non-coding natural antisense transcripts leading to an upregulation of a desired functional protein.

* CAMP4 has prioritized OPKO's lead AntagoNAT compound to progress into clinical trials for Dravet syndrome.

* Under the terms of the agreement, OPKO will receive an upfront payment and shares of CAMP4.

* In addition, OPKO will be eligible to receive up to $93.5 million and additional shares as milestone payments. CAMP4 will also pay OPKO double-digit royalties on product sales.

* Price Action: OPK shares are down 2.25% at $3.92 during the market session on the last check Monday.