(MENAFN) Pharmaceuticals firm, Roche, announced that it plans to join Swiss company Polyphor to work on an antibiotic for a superbug, Times of Oman reported.
Roche said that it inked an exclusive worldwide licensing deal with Polyphor to develop and commercialize the Polyphor's experimental antibiotic POL7080.
In accordance with the deal, Roche is to make an initial payment of USD38.4 million to Polyphor.
The company said that if certain development and commercial goals are achieved, Roche's payments could rise up to USD509.8 million, and that Polyphor is entitled to receive royalties on product sales.
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