VTVT - vTv Therapeutics surges on licensing deal for diabetes candidate

Clinical-stage biotech vTv Therapeutics (NASDAQ:VTVT) climbed ~87% in the pre-market Wednesday after the company announced collaboration and license agreement with affiliates of UAE-based health tech firm G42 Healthcare for its lead candidate TTP399 targeted at type 1 diabetes. Per the terms vTv (VTVT) and an affiliate of G42 will jointly conduct clinical trials for pharmaceutical products containing TTP399. G42 affiliate will partially fund a portion of the Phase 3 clinical trials for TTP399. In return, G42 will received an exclusive license to develop and commercialize pharmaceutical products containing TTP399 in certain markets outside the U.S. and EU. The conditions of the agreement also include a $25M investment from G42 Investments AI Holding RSC Ltd. While $12.5M was paid at the closing of the deal, the remainder is payable on May 31, 2023. In line with the terms, G42 Investments has purchased 10,386,274 shares of Class A Common Stock of vTv (VTVT) at

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vTv Therapeutics surges on licensing deal for diabetes candidate