Cilcare, a biotechnology company pioneering hearing sciences and the development of new therapies for hearing disorders and associated diseases, has the great pleasure of sending you its latest press release announcing the signing of an exclusive license option agreement with Shionogi.
This partnership between Montpellier biotech and a leading Japanese pharmaceutical industry gives Shionogi the right to obtain a worldwide license to CIL001 and/or CIL003, two promising drug candidates aimed at treating hearing loss, and more particularly hidden deafness and tinnitus:
- Cilcare will receive an initial payment of 15 million euros.
- Cilcare is eligible to receive up to €400 million in milestone payments upon the successful development and commercialization of drug candidates.
- Shionogi will decide to exercise the option based on the results of the Phase 2a studies of CIL001 and data from the preclinical studies of CIL003, both conducted by Cilcare
This collaboration represents a crucial step in responding to the global health crisis posed by hidden deafness and tinnitus, offering hope to millions of people around the world.
