Cizzle Biotechnology plc (LON:CIZ) Executive Chairman Dr Allan Syms joins DirectorsTalk Interviews to discuss a strategic and exclusive licensing agreement to develop and offer its proprietary test throughout the USA and Canada.
Dr. Alan Syms, discusses the significance of this partnership, detailing the financial benefits such as a guaranteed royalty stream and a $2.4 million upfront payment over 30 months, which represents a substantial revenue stream for the company. Additionally, he outlines the savings from not conducting the clinical trials themselves and the partnership’s role in supporting development work in the UK. He touches on Cizzle’s focus on the US market due to its large size and unmet need for simple blood tests for lung cancer screening, the company’s licensing business model, and its future product development plans and market strategies both in North America and globally and the steps the company will be taking over the short to medium term.
