In October 2017 Diaprost AB entered into an exclusive Research and Option Agreement with a world leading pharmaceutical company regarding Diaprost’s antibody h11B6. The antibody which targets prostate cancer, the most common cancer in men, has now advanced to clinical development. Taking this into account, the pharmaceutical company has chosen to exercise its option right pursuant to the Research and Option Agreement acquiring Diaprost’s rights to the antibody h11B6. Diaprost has already received payments of USD 13 million and the option and other commercial milestones may trigger additional payments to Diaprost up to USD 90 million.
Diaprost is a private pharmaceutical research and development company which was founded in 2005. The company is based in Lund. Diaprost’s technology has been pursued by researchers at Lund University with support from private investors. Diaprost is collaborating with leading international experts in the fields of molecular medicine, biotechnology, immunology, radiology, radiation physics, laboratory medicine and oncology.
HWF Advokater has jointly with attorney-at-law Ragnar Lindqvist assisted Diaprost in connection with the Research and Option Agreement entered into with the pharmaceutical company and the exercise of the latter’s option right.