TorreyPines Therapeutics, Inc. (TPTX) announced that it has licensed to QR Pharma, Inc. the worldwide rights to Posiphen, bisnorcymcerine and phenserine.
QR Pharma is a biotechnology company focusing on the development of compounds to treat Alzheimer's disease and other cognitive disorders.
As per the terms of the agreement TorreyPines will receive from QR Pharma an annual license fee, clinical and regulatory milestone payments, sublicensing fees and royalties on product sales. The agreement also provides QR Pharma with the right to acquire TorreyPines' ownership of the compounds.
Specific terms of the agreement were not announced.
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