HOMEGROWN biotech company S*Bio has entered into a licensing agreement with American company Tragara Pharmaceuticals in a deal worth US$112.5 million.

With this, Tragara has a worldwide exclusive licence to develop and commercialise one of S*Bio's products, codenamed SB1317.

This drug, which is still being tested on animals, is designed to treat blood-related cancers, but has the potential to treat solid tumours as well.

For S*Bio, the deal includes upfront payment, and several milestone payments along the way, as well as royalties it will get.