June 23, 2021 -- Cerecor has signed an exclusive license deal with the Sanford Burnham Prebys Medical Discovery Institute to develop and commercialize a worldwide immune checkpoint program.
The deal will allow Cerecor to expand its pipeline of immunology and immuno-oncology targets. Per the deal, Cerecor will pay Sanford Burnham Prebys an upfront payment, as well as additional payments based on achieving development, regulatory, and commercial milestones, sales-based royalties, and a share of sublicensing income.
In other business, Cerecor divested its noncore neurology pipeline assets, which are compounds used in CERC-301 and in the COMTi platform, including CERC-406, to Alto Neuroscience and ES Therapeutics. The company had said it planned to seek alternatives since the neurology assets were not core to its business. Cerecor will receive undisclosed initial payments and additional payments, and is entitled to royalty payments based on the net sales of CERC-301 as part of the divestures.