Alseres Pharmaceuticals, Inc. announced that it has entered into an agreement with Navidea Biopharmaceuticals to license, [123I]-E-IACFT Injection, also called Altropane, an Iodine-123 radiolabeled imaging agent, being developed as an aid in the diagnosis of Parkinson's disease and movement disorders. Under the terms of the license agreement, Alseres granted Navidea a sublicense to research, develop, and commercialize CFT. In connection with the execution of this agreement, Navidea will make a one-time sublicense execution payment to Alseres equal to one hundred seventy-five thousand dollars ($175,000) and issue Alseres 300,000 shares of NAVB common stock.
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- Alseres Pharmaceuticals, Inc. Licenses Altropane Rights to Navidea Biopharmaceuticals