Cryptome and University of Virginia to expand vascular leak collaboration
Cryptome seeks to strengthen its position in the management of vascular leak and part of the work to be funded for this purpose will be carried out in the U.Va. laboratory of Prof. Martin Schwartz. Prof. Schwartz was the inventor of CR014, the first peptide compound with broad-spectrum activity against vascular leak, which Cryptome is currently in the final phases of negotiations to inlicense. Prof. Schwartz now contributes to Cryptome's Scientific Advisory Board.
The agreement ensures full transfer of relevant technology and know-how and assigns Cryptome the first option to in-license intellectual property produced in Prof. Schwartz's laboratory.
Relevant intellectual property has already been developed under the contract, including patent filing on that compound, and the company is currently studying the data with a view to exercising its option to license.
While this agreement is fully funded, the company is currently pursuing a new round of capital raising to enable it to vigorously pursue its drug development plans and outlicensing programs in the vascular leak area and more generally.
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