Sun Pharma Advanced Research Company (SPARC) has agreed with Biomodifying LLC (Biomodifying) to exclusively license Biomodifying's intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses including for cancer.

Under the agreement, Biomodifying is eligible for an up-front payment, milestone payments on pre-specified clinical, regulatory, and commercial milestones, as well as royalties on sales. In addition, SPARC will pay Biomodifying a percentage of payments received for sublicenses of the licensed IP.

"This is an important milestone for SPARC. The licensing of antibodies from Biomodifying will assist us in our endeavour to transition SPARC into a company focussed on novel treatment modalities, including bi-specific antibodies and antibody-drug conjugates" said Anil Raghavan, CEO of SPARC.