Navigation Links
AspenBio Pharma Executes Worldwide License Agreement for its Animal Health Assets
Date:7/30/2012

CASTLE ROCK, Colo., July 30, 2012 /PRNewswire/ -- AspenBio Pharma, Inc. (Nasdaq: APPY) today announced that it has executed an exclusive worldwide license agreement with a major international animal health company, providing license and sub-license rights to AspenBio's entire animal health portfolio.

Under the license agreement AspenBio will receive license fees of approximately $1.0 million and milestone payments totaling $2.0 million tied to specified development and regulatory achievements and royalties on licensed product sales. An additional $2.0 million in milestone payments is potentially payable under the agreement associated with expanded development and commercialization efforts by the licensee. The agreement contains standard terms and conditions, including provisions for confidentiality, indemnification and product development and regulatory requirements, all of which will be conducted and funded by the licensee.                

Steve Lundy, President and CEO of AspenBio Pharma, commented, "The licensing of our animal health assets is a significant milestone in the ongoing transformation of AspenBio.  Following the $12.2 million the company raised in June, this agreement provides additional cash infusion and enables us to concentrate our efforts and resources on our primary corporate objective – the clinical development and commercialization of AppyScore™. Looking ahead, AspenBio expects to finalize its pre-IDE application with the FDA and commence clinical trials for AppyScore in the third quarter of 2012."

For additional details on the exclusive worldwide animal health license agreement, please refer to our Form 8-K filing, which can be accessed from the Investor Relations section of AspenBio's corporate website.

About AspenBio Pharma
AspenBio Pharma, Inc. is an in vitro diagnostic company focused on the clinical development and commercialization of its lead product, AppyScore™.  AppyScore is a unique blood-based test designed to aid in the identification of patients at low risk for acute appendicitis, allowing for more conservative treatment planning.  AppyScore is initially being developed for pediatric, adolescent and young adult patients with abdominal pain as this population is at the highest risk for appendicitis as well having the highest risk of long-term health effects associated with CT imaging.  For more information, visit www.aspenbiopharma.com

Forward-Looking Statements
This press release includes "forward-looking statements" of AspenBio Pharma, Inc. ("AspenBio") as defined by the Securities and Exchange Commission ("SEC"). All statements, other than statements of historical fact, included in this press release that address activities, events or developments that AspenBio believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors AspenBio believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of AspenBio. Investors are cautioned that any such statements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including achievement of the required development and regulatory milestones under the license agreement, our and the licensee's ability to successfully complete required product development and modifications in a timely and cost effective manner, complete clinical trial activities for AppyScore required for FDA submission, obtain FDA clearance or approval, cost effectively manufacture and generate revenues from AppyScore and other new products, execute agreements required to successfully advance the company's objectives, retain the management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, obtain and enforce intellectual property rights, and realize value of intangible assets. Furthermore, AspenBio does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the risk factors contained in AspenBio's recent filings with the SEC, including its Final Prospectus filed on June 20, 2012.

For Investors & Media:
Gregory Tiberend / Jason Rando
Tiberend Strategic Advisors, Inc.
(212) 827-0020
gtiberend@tiberend.com
jrando@tiberend.com

 


'/>"/>
SOURCE AspenBio Pharma
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. AspenBio Pharma Engages Tiberend Strategic Advisors as Investor and Public Relations Agency of Record
2. Study Finds Utilizing Integrated Medical and Pharmacy Data Improves Ability to Forecast Use of High-cost Specialty Treatments
3. Report Presents a Framework for Successful New Oncology Product Launches in the Pharmaceutical Sector
4. WuXi PharmaTech Files 2011 Annual Report on Form 20-F
5. Savient Pharmaceuticals to Hold First Quarter 2012 Financial Results Conference Call on Wednesday, May 9, 2012
6. Pharmaceutical Industry Service Company Awarded The UKs Most Prestigious Business Accolade in Recognition of Outstanding Achievement in International Trade
7. Academy of Managed Care Pharmacy (AMCP) Installs 2012-2013 Board of Directors
8. Auxilium Pharmaceuticals to Present at the Deutsche Bank 37th Annual Healthcare Conference
9. Simcere Pharmaceutical Group to Announce First Quarter 2012 Financial Results on Wednesday, May 9, 2012
10. Nouveau Life Pharmaceuticals (HRID) Contracts with U.S. Manufacturer to Produce New Female Supplement
11. Thomson Reuters Launches New Mobile Oncology Decision Support Solution for R&D Pharmaceutical Leaders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016 Any dentist who has ... of the current process. Many of them do not even ... technical difficulties and high laboratory costs involved. And those who ... it at such a high cost that the majority of ... Dr. Parsa Zadeh , founder of Dental Evolutions ...
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, ... and his M.D from the David Geffen School of Medicine at UCLA. He trained ... Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where ...
(Date:6/24/2016)... Angeles, CA (PRWEB) , ... June 24, 2016 , ... ... surgery procedures that most people are unfamiliar with. The article goes on to state ... procedures, but also many of these less common operations such as calf and cheek ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Sessions in Dallas that it will receive two significant new grants to support ... as PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® ... Group (TGIG), has initiated cultivation and processing operations at its production facility, and ... Nevada. , Puradigm is the manufacturer of a complete system of proactive air ...
Breaking Medicine News(10 mins):