IMUNON Announces Strategic Sale of ThermoDox®
IMUNON agreed to sell its rights to ThermoDox, a heat-activated liposomal doxorubicin formulation, to VoxelDox Therapeutics, which plans a Phase 1 trial in glioblastoma. In exchange, IMUNON will receive an equity stake of approximately 4.76% in VoxelDox, up to $16.5 million in contingent development and sales milestones, and tiered royalties of 3.5% to 6% on future net sales. Closing depends on VoxelDox completing a $2.5 million financing.
Key figures
- Deal Value Usd
- $16.5 million in contingent milestone payments plus equity and royalties
- Equity stake
- approximately 4.76% in VoxelDox
- Royalty range
- 3.5% to 6% tiered on net sales
- Voxeldox financing
- $2.5 million
- Milestone potential
- $16.5 million
AI analysis
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