Sun Pharma Advanced Research Company has recently informed exchanges that the company signed a binding Letter of Intent (LOI) with the University of California, San Francisco (UCSF) and Tiller Therapeutics Inc. to license its joint intellectual property (IP) for a pre-clinical oncology asset. This strategic move allows Tiller to develop and commercialize the asset, marking a significant step in advancing innovative cancer treatments.
As per the LOI terms, SPARC will secure a 55% equity stake in Tiller. The equity will be vested in two phases: 45% upon the execution of the license agreement and the remaining 10% upon milestone achievement or within six months of the agreement. The collaboration highlights SPARC’s commitment to bringing cutting-edge oncology solutions to the market.
Anil Raghavan CEO of SPARC stated, “We are excited about the opportunity to partner with Tiller to advance potential treatment of solid tumors affecting millions each year, with no current cure.”
