ProStrakan in Novartis, Cellegy deals

ProStrakan (LSE:PSK) granted Novartis (NVS; SWX:NOVN) an exclusive worldwide license to a patent estate that allows NVS to research, develop and commercialize its preclinical MAbs against an undisclosed PSK target to treat bone-related diseases. PSK will receive a total of $5.8 million in an undisclosed upfront payment and R&D payments over the first two years. PSK also is eligible for more than $140 million in milestones, plus royalties. NVS is responsible for all development, manufacture, clinical and regulatory costs and commercialization. PSK retains rights to small molecules against the target. ...