Navidea Enters Exclusive License and Distribution Agreement For India with Sayre Therapeutics

Navidea Biopharmaceuticals announced that it has entered into an exclusive license and distribution agreement  with Sayre Therapeutics for the development and commercialization of Tc 99m tilmanocept in India. Sayre Therapeutics specializes in innovative treatments and medical devices commercialization in South Asia.

Under the terms of the agreement, Navidea received an upfront payment and is eligible to receive upcoming milestone payments and double-digit royalties associated with the sale of Tc 99m tilmanocept in India.

Michael Goldberg, M.D., President and Chief Executive Officer of Navidea, stated, “We view this partnership as an important milestone in the expansion of tilmanocept’s adoption globally and reiterates our commitment to patients the world over. The terms of our agreement with Sayre are favorable and the increased economics will drive further revenues to fund our other pipeline assets.”

About Tc 99m Tilmanocept

Tc 99m tilmanocept 50 microgram kit for radiopharmaceutical preparation is approved in Europe for imaging and intraoperative detection of sentinel lymph nodes draining a primary tumour in adult patients with breast cancer, melanoma, or localised squamous cell carcinoma of the oral cavity. External imaging and intraoperative evaluation may be performed using a gamma detection device. Tc 99m tilmanocept is designed for the precise identification of lymph nodes that drain from a primary tumour, which have the highest probability of harbouring cancer.