Singapore, July 4 -- BioVersys AG,a multi-asset, clinical stage biopharmaceutical company based in Switzerland, focusing on research and development of novel antibacterial products for serious life-threatening infections caused by multidrug-resistant (MDR) bacteria, has announced a research and exclusive license option agreement with the Japanese pharmaceutical company, Shionogi & Co. to jointly develop novel ansamycin leads from BioVersys' BV500 programme into clinical candidates.

Under the terms of the agreement, BioVersys will receive an upfront payment and near-term research payments totaling CHF 5.0 million. Once clinical candidates have been selected, Shionogi may exercise a license option for which BioVersys would be eligible to r...