Patrys (ASX:PAB) has struck a binding agreement with Yale that hands the university ownership of the deoxymab intellectual property while securing Patrys a 50 per cent share of any future commercialisation revenue directly attributable to the deoxymab portfolio.
The Australian company said the deal is designed to reduce its capital burden for further development while preserving long‑term shareholder exposure to upside from licensing income, equity interests, royalties, milestone payments and other commercial considerations.
Under the terms, Patrys will assign the deoxymab intellectual property to Yale, which will assume responsibility for the majority of future research and development costs either directly or via third‑party funding. Patrys will retain entitlement to half of future commercial proceeds.
The structure contemplates Yale transferring the intellectual property to a new university-backed start‑up entity, with Patrys becoming a direct shareholder in that start‑up, thereby enabling continued strategic participation in the program.
Patrys will also continue to support ongoing clinical and preclinical research, including vasculitis preclinical work on DX1 and DX3 in collaboration with Monash University.
Patrys' chief executive officer, Dr Samantha South, said, "This transaction represents an important strategic milestone for Patrys and the deoxymab platform. This agreement preserves the Company's involvement and exposure to potential future commercial success, while materially reducing the capital required to continue advancing the asset internally. Importantly, the structure creates a pathway for the deoxymab portfolio to progress within a University-supported commercialisation framework capable of accessing specialist expertise, strategic partnerships and external funding opportunities. We believe this approach provides the best opportunity to maximise long-term value creation for shareholders while continuing to support advancement of the underlying science."
Deoxymab inventor and prospective new Yale venture founder Dr James Hansen described his enthusiasm for continuing the work, saying, "My research career has been dedicated to developing Deoxymab and uncovering its unique mechanisms of action. I am incredibly excited to now have the opportunity to continue advancing this transformative antibody towards its full potential as a novel therapeutic that I believe will fundamentally change how we treat multiple diseases."
