Aridis Pharmaceuticals executes license agreement with Serum Institute of India
Aridis Pharmaceuticals announced that it has consummated a licensing agreement with Serum AMR, an affiliate of Serum International BV, or SIBV, and the Serum Institute of India, Ltd. The agreement grants Serum AMR a license to multiple programs from Aridis for certain limited territories and access the Company's MabIgX platform technology for asset identification and selection. As part of the agreement, Aridis will receive the remaining upfront cash payment of $10M, which is in addition to the $5M that was initially received when the companies signed an option agreement on July 30. Moving forward, Aridis is eligible for future milestone payments for achieving product development and commercial objectives, along with royalties on net sales.