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PharmAla Biotech Licenses Lead Candidate ALA-002 to Jupiter Neuroscience in the US

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PharmAla Biotech (MDMA.CN) has licensed Jupiter Neuroscience to develop, manufacture and commercialize ALA-002, PharmAla's lead drug candidate, in the US, the company said Tuesday.

PharmAla will receive up to $100 million, consisting of a $3.3 million upfront payment in cash and shares, and up to $96.7 million in contingent development, regulatory and commercialization milestone payments. The company will also receive 3% royalties on all future US net sales after the milestone payments end.

PharmAla retains all rights to ALA-002 outside the US.

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