Strata Pharmaceuticals and Micrologix sign collaboration and license agreement

Date Closed: 8/03/2004

Value: See description  

On August 3, 2004, Strata Pharmaceuticals, Inc. and Micrologix Biotech Inc. entered into a collaboration and license agreement to develop and commercialize Micrologix’s MBI-226, a compound in phase III clinical development for the prevention of catheter-related infections. Under the terms of the agreement, Strata receives the exclusive North American and European commercialization rights for MBI-226. Micrologix received a US$1.5 million up-front payment and an equity investment of US$500,000 in common shares, up to US$30 million in additional development and sales based milestones and a double-digit royalty on net sales.

Strata was represented with assistance from Fred R. Pletcher of BLG on Canadian securities issues.