Singapore, June 18 -- UK-based Avata Biosciences Holdings has signed a co-development and licensing agreement with Oceanus Bio, Inc. for the exclusive rights to AVAT-021 and AVAT-022 in Japan and Asia, except in China and India.

The agreement comprises $95 million in co-development contributions, regulatory and sales milestone payments to Avata. A further double-digit royalty on sales is agreed for the term of the agreement.

Oceanus Bio, Inc. is a clinical-stage pharmaceutical company founded by Kazunari Tsunaba and built upon proven leadership experience from Novartis Japan and Aculys Japan. With a mission to accelerate access to breakthrough therapies in Asia, Oceanus brings deep CNS expertise and a track record of successful drug dev...