Cizzle Biotechnology Secures $300,000 Initial Royalty in North American Lung Cancer Test Agreement

Cizzle Biotechnology Holdings PLC, a leading UK-based diagnostics developer, has signed a strategic licensing and partnership agreement for its CIZ1B biomarker test with Cizzle Bio, Inc. (BIO), a USA-based company. This agreement marks a significant milestone in bringing Cizzle's innovative, non-invasive blood test for the early detection of lung cancer to market in North America (USA and Canada).

Key Highlights:

• Exclusive North American Rights:

  BIO has been granted exclusive rights to the CIZ1B biomarker technology, positioning them to drive early lung cancer detection in one of the largest global healthcare markets.

• $300,000 Initial Royalty Payment:

  As part of the agreement, Cizzle Biotechnology has received an upfront payment of $300,000, with a 10% royalty on gross sales after tax and guaranteed minimum royalty payments of $2 million over the next 30 months.

• BIO’s Responsibilities:

  BIO will oversee all clinical evaluations, accreditation, and marketing efforts, ensuring the CIZ1B test is rolled out effectively across the USA and Canada.

• Equity Participation:

  Cizzle Biotechnology will receive an equity stake in BIO, allowing them to share in BIO’s future success.

• Partnership with Leading Cancer Centers:

  BIO has already secured partnerships, including a collaboration with Moffitt Cancer Center, one of the top cancer facilities in the USA. This partnership will be crucial in evaluating the efficacy of the CIZ1B biomarker in clinical settings.

• Future Plans:

  BIO aims to achieve CLIA accreditation by the end of 2024, with a full market launch planned for April 2025. This will include approved reimbursement codes, making the CIZ1B test accessible to more patients.

This partnership aligns with Cizzle Biotechnology's goal of improving lung cancer detection rates and saving lives by diagnosing cancer at its earliest stages. The collaboration with BIO ensures the infrastructure and clinical expertise needed to deliver this breakthrough to North America. Cizzle is now positioned to pursue further strategic milestones, including expanding the technology into new regions and advancing the development of point-of-care testing.

Comment from Cizzle Biotechnology:

Allan Syms, Executive Chairman of Cizzle Biotechnology: "The Agreement with Cizzle Bio is the critical first step in the Company's global licensing and partnership strategy to bring our non-invasive, cost effective, CIZ1B biomarker lung cancer blood test to market in 2025. The structure of the Agreement aligns both parties to create value for all the stakeholders and fulfils the Company's overarching vision to saving lives. We are delighted to have teamed up with a highly experienced team bringing clinical excellence and capability, as well as financial capacity to build a material business in North America. Working with the BIO team will secure significant guaranteed minimum and ongoing licensing revenue for the Company as well as free equity participation in BIO, allowing the Company to fund expansion in other regions using the same partnership model and focus on the development plans for a point of care test further enhancing the Company's value."

Comment from Cizzle Bio, Inc:

Bill Behnke, CEO of BIO, commented:

"Another very important milestone achieved in our tireless efforts to screen patients early and save lives.  Cizzle Bio Inc is excited about commercializing all the wonderful research work that our UK partners have progressed over the years in lung cancer. Cizzle Bio, through our vast network in the USA is in discussions with multiple hospitals, cancer centers, advocacy associations, pulmonary critical care and primary care physician groups and screening programs. Our mission is clear, to screen as many patients as we can out of the 14.2 million recommended by the US Preventative Services Task Force that should be tested for lung cancer each year, resulting in saving millions of lives and increasing the 5.5% of people currently being test to a much more robust number."

For more details on the announcement, read the full release here.