ALDA Pharmaceuticals to pursue therapeutic applications through subsidiary
ALDA Pharmaceuticals Corp. announced that it has changed the name of its existing, wholly owned subsidiary from "ALDA Institute For Preventive Health Care, Inc." to "Sirona Therapeutics Corp." and has entered into a Technology License and Option Agreement with Sirona for the purposes of developing and commercializing therapeutic applications of ALDA's patent-pending T(3)6(R) infection control technology in such areas as antiseptics, topical anti-fungal treatments, anti-microbial personal lubricants and anti-viral soaps.
Pursuant to the terms of the agreement, Sirona has been granted a limited license to undertake further research and development and has assumed all financial obligations related to clinical trials, patent applications and prosecutions. Sirona will pay ALDA milestone payments, in cash or shares, upon completion of defined milestones such as completion of clinical trials, regulatory filings and regulatory approval. At any time Sirona may exercise an option to negotiate a commercial license with ALDA for a particular therapeutic application in consideration of a licensing fee and 2% royalty.
Additional therapeutic applications of infection control technologies that ALDA subsequently develops or acquires are intended to be developed through Sirona on similar terms as those set out in the current agreement.
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