China-based startup Cure Genetics and Frametact, founded by a molecular neuroscience research team at The Hong Kong University of Science and Technology and Hong Kong Center For Neurodegenerative Diseases, have jointly announce the signing of a collaborative development and licensing agreement.
SUZHOU, China and HONG KONG, Sept. 14, 2023 /PRNewswire/ -- Cure Genetics and Frametact Limited, a biotech company specializing in researching and developing treatments for neurological diseases, jointly announce the signing of a collaborative development and licensing agreement. The partnership will leverage Cure Genetics' proprietary VELP™ platform to develop novel Adeno-Associated Virus (AAV) vectors for the treatment of familial neurological diseases. According to the agreement, Cure Genetics will receive an upfront and milestone payment totaling $60 million. Additionally, upon the market launch of the product, Cure Genetics will continue to receive sales royalties based on net revenue.