OGN - Organon in pact with Cirqle Biomedical for contraceptive candidate

• Women’s healthcare company Organon ( NYSE: OGN ) and life science company Cirqle Biomedical announced a research collaboration and license agreement on Thursday to develop and commercialize an experimental contraceptive candidate.
• According to pre-clinical data, the non-hormonal, on-demand contraceptive method discovered by Cirqle has the potential to block sperm transport by topically reinforcing the cervical mucosa.
• Per the terms, Cirqle will be responsible for conducting the pre-clinical studies for the candidate according to a pre-agreed plan.
• Organon ( OGN ) will be entitled to exclusive worldwide rights to develop and commercialize the candidate. In return, Cirqle can receive a $10M upfront payment in addition to milestone payments worth up to $360M and royalties based on net sales.

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