Cizzle Biotechnology Holdings plc (LON:CIZ), the UK based diagnostics developer, has announced that it has today signed an exclusive licensing and partnership agreement for its proprietary CIZ1B biomarker test to help detect early-stage lung cancer, throughout the USA and Canada (North America). This is the critical first step in the Company’s global licensing and partnership strategy to bring Cizzle’s non-invasive, cost effective CIZ1B biomarker lung cancer blood test to market next year.
Execution of the Agreement follows the Company entering into a Memorandum of Understanding (MOU) on 2 April 2024 with an independently funded USA based corporation, Cizzle Bio Inc (BIO). The Agreement meets an important planned milestone in the Company’s licensing and partnership strategy to launch the CIZ1B biomarker test in North America, one of world’s largest markets.
BIO brings a US based, highly experienced management team with extensive clinical expertise, who are incentivised through fixed milestone payments to accelerate the deployment of the test into the North American market. The Agreement aligns both parties’ strategic goals through a royalty payment structure, including an initial payment to the Company of US$300,000 and equity participation where the Company can share in any future value of BIO.
