April 25, 2017 / 12:12 PM / a year ago

BRIEF-Crescita Therapeutics announces agreement with Taro Pharmaceuticals for Pliaglis

April 25 (Reuters) - Crescita Therapeutics Inc

* Crescita Therapeutics announces agreement with Taro Pharmaceuticals for Pliaglis

* Crescita Therapeutics - entered development and commercialization license agreement with Taro Pharmaceuticals, unit of Taro Pharmaceutical Industries

* Crescita Therapeutics - under terms of agreement, Crescita has granted Taro exclusive license to rights to sell and distribute Pliaglis in U.S. market

* Crescita Therapeutics Inc - in consideration of rights granted under agreement taro will make an upfront, non-dilutive payment of US$2.0 million to Crescita

* Crescita Therapeutics Inc - under deal Taro will also make up to US$5.75 million in non-dilutive development and sales milestone payments to Crescita

* Crescita Therapeutics Inc - in addition, Crescita and Taro have entered into a fee-for-service development agreement

* Crescita Therapeutics Inc - Crescita retains all rights to Pliaglis in Canada and Mexico

* Crescita Therapeutics Inc - fee-for-service development with Taro wherein co to provide services related to development of Pliaglis and enhanced formulation

* Crescita Therapeutics Inc - co to receive fees related to fee-for service development based on services performed Source text for Eikon: Further company coverage:

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