Navidea Enters into Distribution Deal in India

Navidea Biopharmaceuticals shares were over 3% higher Tuesday after the company said that it has entered into an exclusive license and distribution agreement with Sayre Therapeutics for the development and commercialization of Tc 99m tilmanocept in India

Tc 99m tilmanocept kit is used for radiopharmaceutical preparation for imaging and intraoperative detection of sentinel lymph nodes draining a primary tumor in adult patients with breast cancer. Under the terms of the deal, the company received an upfront payment and is eligible to receive upcoming milestone payments and double-digit royalties.

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