Roivant Sciences, a company that in-licenses late-stage drug candidates and develops them through subsidiaries, has signed a global licensing agreement with Korea-based iNtRON Biotechnology for the treatment of infectious diseases caused by antibiotic-resistant staphylococci, it was reported yesterday.

The licensing deal is worth a total of USD667.5m inclusive of milestone payments, with royalties on net sales in the low double digits.

According to the terms of the contract, iNtRON Bio will receive an upfront payment upon execution of the contract and subsequent milestone payments for development, regulatory, and sales-driven events. This contract also provides Roivant with the option to license iNtRON Bio's non-clinical stage, anti-Gram-positive endolysin programs including anti-VRE and anti-TB biologics for an additional consideration of up to USD45m each. Roivant also has the first right of offer for iNtRON Bio's anti-Gram-negative platform. Roivant has created a dedicated subsidiary to pursue the global development and commercialisation of endolysin products from iNtRON Bio. Roivant plans to start a Phase two trial for SAL200 in 2019.