• PhaseBio Pharmaceuticals Inc (NASDAQ: PHAS) has entered into an exclusive licensing agreement with privately-held Alfasigma S.p.A for the commercialization of bentracimab.

• The agreement covers countries in the European Union and European Economic Area, and the U.K., Russia, Ukraine, and other countries within the Commonwealth of Independent States.

• PhaseBio will receive a $20 million upfront payment and will be eligible to receive up to $35 million in pre-revenue regulatory milestones.

• It will also be eligible for up to $190 million in sales milestone payments and sales-based royalties.

• Bentracimab is currently in a REVERSE-IT Phase 3 trial designed to study reversal of the antiplatelet effects of ticagrelor with bentracimab.

• Enrollment of the first 100 subjects will complete in mid-2021, and it is targeting to submit its marketing application in mid-2022.

• Price Action: PHAS shares are up 13.7% at $4.49 during the premarket trading session on the last check Thursday.

See more from Benzinga

• Click here for options trades from Benzinga

• Jazz Pharmaceuticals Updates 2021 Guidance To Include GW Pharma Acquisition

• FibroGen In-Licenses Three HiFiBiO Programs For Cancer, Autoimmune Settings

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.