India, May 20 -- PharmAla Biotech Holdings Inc., a biotechnology company, announced that it has entered into a term sheet under which PharmAla would grant Jupiter Neurosciences, Inc. (JUNS) exclusive, perpetual United States licensing rights to ALA-002, a PharmAla's patented, non-racemic MDMA formulation.
The proposed transaction exceeds $100 million and comprises upfront consideration, development milestone payments, and single-digit royalties on net sales. Closing of the definitive agreement is expected within 90 days of the execution of the term sheet, subject to regulatory approvals.
The proposed transaction is intended to give ALA-002 a dedicated U.S. development and commercialisation platform through Jupiter Neurosciences, and it's ...