Island Pharmaceuticals entered a non-binding term sheet with BioCryst Pharmaceuticals to acquire the antiviral molecule, galidesivir.

The agreement grants Island a one-year option to assume the galidesivir program, expanding its antiviral pipeline.

Galidesivir, a clinical-stage molecule, has shown efficacy against severe viruses like Ebola, Zika, and Marburg, and has passed Phase 1 safety studies.

Island Pharmaceuticals will conduct further due diligence during this period, with acquisition terms set at US$500,000 ($749,905) upon option exercise, US$500,000 ($749,905)  post-Phase 2 trial completion, and up to US$1.5 million ($2.2 million) on regulatory approval.