Avid Bioservices Inc (CDMO)

[JJ1223]

“Avid Bioservices (CDMO -1.2%) inks an agreement with Boston, MA-based Oncologie for the sale of its phosphatidylserine (PS)-targeting program, including PS-inhibitor bavituximab.
Under the terms of the deal, Oncologie will pay Avid $8M upfront, up to $95M in milestones and tiered royalties up to the mid-teens. Oncologie will be responsible for all future research, development and commercialization of bavituximab while Avid will provide contract development and manufacturing services”
Any rights that Avid had with UTSW licensing agreements have been taken over by Oncologie. Do you think the new company has no right to target PS? The PR certainly does not imply otherwise.