Starpharma Holdings (ASX:SPL) achieved a milestone under its collaboration with Radiopharm Theranostics (ASX:RAD), triggering an AU$500,000 option fee payable to Starpharma, according to a Friday filing with the Australian bourse.
The milestone advances the collaboration into an option period during which Radiopharm may take an exclusive license to Starpharma's proprietary DEP dendrimer technology for a radiopharmaceutical asset.
If Radiopharm exercises that option, Starpharma will be eligible to receive up to AU$91 million, including an upfront payment and various milestone payments, in addition to royalties on net sales, per the filing.
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