Coeptis Therapeutics, Inc. a biopharmaceutical company developing cell therapy platforms for cancer, announced the Company has entered into an agreement with Statera Biopharma, Inc. that gives Coeptis the right to acquire Statera's toll-like receptor 5 (TLR5) agonist platform, including entolimod, a clinical-stage product being developed as a treatment for acute radiation syndrome. The transaction is contingent upon negotiation of a definitive agreement and satisfaction of a number of closing conditions, including a financing contingency.
Under the terms of the agreement, Coeptis will agree to pay Statera Biopharma $6 million and revenue-based milestone payments to be defined in the definitive agreement in exchange for a defined set of purchased assets that include Statera's rights to any product containing entolimod as an active ingredient and all other related TLR5 agonists, related intellectual property, contract rights, inventory and data related to such products.
"The proposed addition of Statera's TLR5 agonist platform, led by entolimod, a late-stage clinical candidate, offers the potential to significantly enhance our development pipeline and target multiple disease indications that remain underserved by current therapeutic options," said Dave Mehalick, president and chief executive.
