DURECT and Gilead Enter into License Agreement for Long-Acting Injectable HIV Investigational Product
DURECT Corporation (DRRX)
Last durect corporation earnings: 3/3 04:05 pm
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Source: PR Newswire
CUPERTINO, Calif., July 22, 2019 /PRNewswire/ -- DURECT Corporation (Nasdaq: DRRX) announced today that it has entered into an agreement with Gilead Sciences, Inc. granting Gilead the exclusive worldwide rights to develop and commercialize a long-acting injectable HIV product utilizing DURECT's SABER® technology. Gilead also received exclusive access to the SABER® platform for HIV and Hepatitis B Virus (HBV) and the exclusive option to license additional SABER-based products directed to HIV and HBV."We're pleased to be working on this program with Gilead given their expertise and global leadership in the HIV and HBV fields," stated James E. Brown, President and CEO of DURECT. "We've been working together on this program as a feasibility project, and are now delighted that Gilead has chosen to advance this effort into a formal development program."Under the terms of the agreement, Gilead will make an upfront payment to DURECT of $25 million, with the potential for up to an additional
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