Celyad Announces Deals With Celdara Medical And Dartmouth College

(RTTNews) - Celyad (CYAD) and its fully-owned subsidiary OnCyte LLC, announced revised terms to their agreements with Celdara Medical LLC and Dartmouth College.

Following encouraging initial results of the THINK trial, which have led to increased confidence in the long-term potential of Celyad's CAR-T assets, Celyad has amended its existing agreements with Celdara Medical, LLC and Dartmouth College.

As per the amended agreements Celyad will receive an increased share of future revenues generated by these assets, including revenues from its sublicensees. In return, Celyad will pay Celdara Medical LLC and Dartmouth College an upfront payment of $12.5 million or 10.6 million euros and $12.5 million worth of Celyad shares at a share price of €32.35 corresponding to a 14% premium versus last trading day.