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Presidio Pharmaceuticals, Inc.

Drug Names(s): Hepex-C, XTL-002

Description: XTL-6865 is a combination of two fully human monoclonal antibodies (Ab68 and Ab65) against the hepatitis C virus E2 envelope protein.

Deal Structure: In March 2008, Presidio Pharmaceuticals entered into an agreement with XTL Biopharmaceuticals for an exclusive, worldwide license to XTL's proprietary HCV NS5A program. As part of the license, Presidio obtained rights to several distinct chemical series, including their promising lead series, which exhibits potent activity against both the HCV 1a and 1b genotypes. Presidio will assume responsibility for any additional lead optimization, clinical development, and commercialization activities related to the program.

XTL will receive $4 million from Presidio as an upfront payment, and could earn an additional $104 million if all development and commercialization milestones are achieved. In addition, XTL is entitled to royalties on direct net sales by Presidio and may also share in a percentage of income that Presidio obtains from sublicenses to third parties.

Partners: XTL Biopharmaceuticals Ltd.

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