Cyclerion Therapeutics Signs Collaboration and Option Agreement With Medsteer
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Cyclerion Therapeutics has signed a Collaboration and Option Agreement with Medsteer to co-develop an anesthetic delivery system and secure an exclusive licensing option. The agreement grants Cyclerion a non-exclusive, royalty-free development license and an exclusive option for a worldwide, royalty-bearing license. Medsteer will receive an upfront payment, milestone payments up to $3.7 million, and royalties on net sales. The collaboration will last for up to 2 years, with the possibility of extension, and includes joint ownership of collaboration know-how.
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