Sebela Pharmaceuticals: Destiny Pharma plc Signs Collaboration and Co-Development Agreement with Sebela Pharmaceutical for NTCD-M3

Destiny Pharma plc announced that it has signed an exclusive collaboration and co-development agreement for the North American (U.S., Canada and Mexico) rights of NTCD-M3, its lead asset for the prevention of Clostridioides difficile infection (CDI) recurrence, with Sebela Pharmaceuticals. Under the terms of the deal, it is anticipated that Sebela will lead and finance the future clinical development and commercialisation activities of NTCD-M3 in North America. The Company retains the majority of rights for Europe and Rest of the World and Sebela has a minority interest in any income generated in these non-North American territories based on the clinical studies it is funding. The agreement, which could be worth up to $570 million to Destiny Pharma in milestones alone, includes; · an initial upfront payment of $1 million; · success-based development milestones of $19 million; · sales revenues-based milestone payments up to $550 million; and · tiered, double-digit royalties. Destiny Pharma has the obligation to continue its current plan to complete the ongoing manufacture of all clinical trial supplies needed to undertake the required clinical studies. It is anticipated that Phase 3 studies will commence in 2024.