Statera Biopharma a biopharmaceutical company creating next-generation immune therapies that focus on immune restoration and homeostasis, announced today that the Company intends to enter into a non-binding term sheet with respect to a strategic partnership with Lay Sciences, Inc. (“Lay Sciences”), a development and commercialization company of innovative solutions, to license worldwide manufacturing rights to certain Lay Sciences’ IgY products containing avian antibodies as an active ingredient.
“The strategic partnership with Lay Sciences has the potential to produce near term revenue,” said Michael K. Handley, President and Chief Executive Officer of Statera Biopharma. “The agreement allows Statera the right to supply the products for the existing approved markets. Statera also receives the right to license and commercialize current and future products for other indications.”
Under the terms of the proposed agreement, Lay Sciences would receive an upfront payment comprised of both equity and cash and would also have the potential to earn royalties and milestones associated with the development of IgY in gastrointestinal and upper respiratory indications.
“Lay Sciences is pioneering a new generation of treatment and prophylaxis with proprietary formulations that protect IgY from gastric acids and proteases that allows for release of antibodies to targeted regions of the gut,” said Satish Chandran, Chief Executive Officer, Lay Sciences, Inc. “We are excited to partner with Statera and believe oral polyclonal IgY antibodies allow for therapeutic intervention and for prophylaxis in a targeted manner that will enhance our ability to combat chronic, life‐threatening diseases.”