TFF Pharmaceuticals and Felix Biotechnology Sign Letter of Intent for a Collaboration, Development and License Agreement
TFF Pharmaceuticals, Inc. (NASDAQ: TFFP), a clinical-stage biopharmaceutical company focused on developing and commercializing innovative drug products based on its patented Thin Film Freezing (TFF) technology platform, and Felix Biotechnology, Inc., a clinical stage, biotherapeutic-based antibiotic development company, today jointly announce that both companies have entered into a letter of intent (LOI) which reflects the parties’ non-binding agreement in principle to negotiate and enter into a Collaboration, Development and License Agreement (CDLA).
Under this proposed CDLA agreement, Felix Biotechnology would obtain a worldwide license to TFF Pharmaceuticals’ Thin Film Freezing technology to develop and manufacture dry powder formulations of a novel, bacteriophage-based biotherapeutics for inhalation delivery directly to the lungs of patients. Under the terms of the proposed CDLA and in exchange for the license to the TFF technology, Felix would agree to pay TFF Pharmaceuticals an upfront payment, development milestones, commercial milestones and royalties on net sales of the Felix biotherapeutics. A definitive CDLA is subject to the mutual agreement of the parties and a number of conditions, including Felix Biotechnology’s successful completion of a Series A financing.
“We are very excited to be pursuing an agreement with Felix Biotechnology, a company on the leading edge of developing bacteriophage therapies that initially are targeting bacterial lung infections,” said Glenn Mattes, President and CEO of TFF Pharmaceuticals. “We believe the reformulation of these unique, complex biologics using our TFF technology would represent a first-of-its-kind breakthrough and could provide a more effective and targeted delivery mechanism to the deep lung of patients. We look forward to working towards a final agreement and seeing this breakthrough technology advance into the clinic and beyond.”
“Our goal at Felix is not only to develop but also to deploy innovative solutions to tackle the growing and unmanaged challenge of antibiotic resistant bacterial infections. We currently deliver our generalized phage therapy directly to the lung via nebulization, and have done so successfully in humans. Our lead asset, targeting Pseudomonas infections in the lungs of CF patients is currently being evaluated in a double-blind, placebo-controlled trial at Yale in 36 patients,” said Rob McBride, CEO of Felix Biotechnology. “We are excited to continue developing cutting edge and effective phage delivery solutions to our patients and our collaboration with TFF represents an important next step for us on this path.”
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