Curis, Stryker Ink Agreement

Curis has agreed to sell intellectual property covering bone morphogenetic protein-7 (BMP-7), which is used to treat a variety of diseases, to Stryker.

Curis could receive approximately $41 million in payments if a drug candidate is developed and approved but would be required to make payments of up to $14 million to a former third-party collaborator if the candidates are designed to treat chronic kidney disease patients.

Daniel Passeri, Curis’ president and CEO, said the deal will allow the company to focus on its core small molecule cancer drug programs.