IGMS - Medivir sells global rights of birinapant to IGM Biosciences

Medivir AB (MVRBF) enters exclusive licensing agreement, through which IGM Biosciences (IGMS), will receive global  development rights for birinapant, a clinical-stage SMAC mimetic that binds to and degrades Inhibitors of Apoptosis Proteins (IAPs), leading to cell death (apoptosis) in tumor cells.Medivir will receive an upfront payment of $1M upon signing the agreement, followed by an additional $1.5M when birinapant is included by IGM in clinical phase I studies.The terms of the agreement allow Medivir receive milestone payments up to a total of about $350M, plus tiered royalties up to mid-teens on net sales.

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Medivir sells global rights of birinapant to IGM Biosciences