First Wave BioPharma To Receive Global License For Capeserod From Sanofi; Stock Surges

(RTTNews) - First Wave BioPharma, Inc., (FWBI) announced an agreement with Sanofi (SNY) to license Capeserod, a selective 5-HT4 receptor partial agonist, which First Wave will repurpose and develop for gastrointestinal indications. First Wave will receive from Sanofi an exclusive, global license for Capeserod. The licensing agreement includes a modest upfront payment, backend milestone payments and single digit royalties on net sales.

James Sapirstein, CEO of First Wave, said: "We intend to immediately initiate discussions with the FDA focused on a development and regulatory plan that would enable us to begin Phase 2 clinical trials of Capeserod in 2024."

Shares of First Wave BioPharma are up more than 30% in pre-market trade on Thursday.

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