Coulter Pharma, ML Lab deal

CLTR and Cobra Therapeutics Ltd., an MLB subsidiary, will develop and commercialize Cobra’s gene expression technology based on Ubiquitous Chromatin Opening Elements (UCOEs), which are designed to induce productivity from genes introduced into target cells. CLTR will pay Cobra an upfront fee of £1 million ($1.5 million) plus milestones and sublicense fees. Neither company will owe the other royalties on the first two products it develops, but subsequent products will be subject to royalties. CLTR will be responsible for obtaining sublicenses for the technology in North America and Japan, and Cobra has responsibility for all other territories. Revenues from third party milestones and royalties will be split. ...