Hy BioPharma, Soligenix deal

Soligenix acquired SGX301 from Hy BioPharma for up to $14 million, of which about 2% is payable in cash and about 98% is payable in restricted securities. Undisclosed milestone payments will be triggered by EMA or FDA approval and if SGX301 meets the primary endpoint in Phase III testing to treat cutaneous T cell lymphoma (CTCL), which is slated to start in 1H15. Soligenix acquired all rights to the product, including IP and preclinical and clinical data. ...