University of Maryland, Baltimore Grants Spherix Exclusive Option to License Anthrax Based Ovarian Cancer Drug PrAg-PAS
Tuesday, September 17, 2019
NEW YORK, Sept. 17, 2019 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) today announced that the Company has executed an exclusive option agreement ("Option") with the University of Maryland, Baltimore (UMB) related to its anticancer drug designated PrAg-PAS, a novel protein drug designed by re-engineering the anthrax toxin delivery mechanism so that any one of a number of anticancer drug payloads may be specifically transported into ovarian cancer cells.
The Option includes rights to U.S. Patent Application Serial No. 15/747,255, which is currently under active examination at the U.S. Patent and Trademark Office. Under the Option, Spherix has until early December of 2019 to complete its due diligence and execute a license agreement for commercial development.
Read the full release from Spherix.