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Stock Market & Financial Investment News

News Breaks
January 22, 2013
08:28 EDTNAVBNavidea initiated with a Hold at Aegis
Target $3.
News For NAVB From The Last 14 Days
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April 27, 2015
07:33 EDTNAVBNavidea divests NAV5001 to Alseres
Navidea Biopharmaceuticals (NAVB) announced that it has entered into an agreement with Alseres Pharmaceuticals (ALSE) to terminate the sub-license agreement dated July 31, 2012 for research, development and commercialization of NAV5001, an agent in Phase 3 clinical development for early detection of Parkinsonís disease. Navidea previously announced its intention to decrease its R&D expenses by divesting its non-core neuroimaging assets. This agreement follows through on the companyís commitment to decrease cash burn while moving these neuroimaging programs forward. Under the terms of this agreement, Navidea will transfer the NAV5001 IND, all data, clinical materials, regulatory files, patents, know-how, and other assets covering the clinical testing of the NAV5001 to Alseres. Alseres will reimburse Navidea on a fully-documented, pass-through basis for any incurred maintenance costs of the contract manufacturer retroactive to March 1. In addition, as requested by Alseres, Navidea will supply clinical support services for NAV5001 on a cost-plus reimbursement basis. In consideration for the rights granted to Alseres, Navidea will receive a milestone payment in connection with NAV5001ís NDA approval by the FDA and a royalty on subsequent net sales of NAV5001.

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