Aarvik Therapeutics announces a global license and assignment Agreement with NJ Bio, Inc. to secure a class of novel proprietary payloads with a wide range of potencies. Aarvik has an exclusive license to commercialize the novel proprietary payloads from NJ Bio, as well as any materials or products containing the payloads, and can acquire ownership and all rights upon completion of option payments. As part of the agreement, Aarvik will pay NJ Bio an upfront payment, option payments, as well as future success-based milestone and royalty payments for products utilizing the payloads. NJ Bio will also provide all conjugation services for the payloads. Aarvik will partner with NJ Bio to manufacture materials for preclinical studies and clinical trials.
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