Spyre Therapeutics (NASDAQ:SYRE) has entered into groundbreaking licensing agreements with Paragon Therapeutics.

These agreements grant Spyre Therapeutics exclusive, worldwide licenses to develop, manufacture, and commercialize certain antibodies targeting α4ß7 integrin and TL1A.

Under the terms of these agreements, Spyre Therapeutics will make substantial milestone payments to Paragon, totaling up to $22 million for each licensed research program.

These payments include a $1.5 million fee upon the nomination of a development candidate and an additional $2.5 million when the first human patient is dosed in a Phase 1 clinical trial.

Furthermore, Paragon has agreed to provide Spyre with exclusive rights to its patents covering these antibodies, their methods of use, and manufacturing.