GTBP - GT Biopharma inks partnership agreement with Cytovance Biologics

GT Biopharma (GTBP) entered into a partnership agreement with U.S.-based Cytovance Biologics, contract development and manufacturing organization and a subsidiary of the Shenzhen Hepalink Pharmaceutical Group.Under the agreement, Cytovance will be the exclusive GMP manufacture for three of the company's TriKE therapeutic product candidates.Based on completion of certain milestones by Cytovance, GT Biopharma has the option to pay up to $6M for its manufacturing services in either cash or in shares of the company's common stock valued at the time Cytovance achieves each of several milestones over the next 12 months."The flexibility and breadth of our TriKE therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE product opportunities into the clinic," chairman & CEO Mr. Anthony Cataldo commented.

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GT Biopharma inks partnership agreement with Cytovance Biologics