Ribomic has the option to make license nonexclusive, which will trigger milestones of over $200 million.
Ribomic paid Archemix $6 million for rights to develop aptamers against multiple targets. Total milestone payments under this agreement could exceed $200 million.
The deal covers worldwide, nonexclusive licenses to certain intellectual property rights. Ribomic has the option, upon payment of a further fee, to convert the licenses from nonexclusive to exclusive on a target-by-target basis. If exercised, Archemix is eligible to receive milestone fees and a royalty on any marketed products developed under this partnership.
Archemix and Ribomic reportedly inked a one-target deal last year.