Sequella deal

Sequella granted Russian financial firm Maxwell Biotech Venture Fund exclusive rights to develop and commercialize tuberculosis (TB) candidate SQ109 in Russia and the Commonwealth of Independent States. Under the deal, Sequella is eligible for up to $50 million through a combination of an equity investment, clinical trial funding, milestones and royalties. Maxwell is responsible for completing clinical development of SQ109, obtaining regulatory approval and commercializing the diamine antibiotic that inhibits cell wall synthesis. SQ109 is in Phase II testing for TB and has Orphan Drug designation in the U.S. and EU, and Fast Track designation in the U.S. for the indication. The Maxwell Biotech Venture Fund was created with funds from private investors and the government-sponsored Russian Venture Company (RVC) to invest in Russian innovation. Further terms were not disclosed. ...