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STOCKHOLM - Xspray Pharma, a Swedish pharmaceutical company with a market capitalization of $194 million that according to InvestingPro analysis appears undervalued, has entered into a non-exclusive license agreement with Handa Therapeutics for patents related to dasatinib products, the company announced Tuesday.
The agreement grants Handa rights to commercialize a dasatinib product in the U.S. market initially, with potential expansion to selected Asian markets later. Xspray will receive up to a double-digit royalty on Handa’s net proceeds from sales. This deal comes as the company’s stock has shown strong momentum, posting a 60% return over the past six months.
This marks the first out-licensing deal from Xspray’s patent portfolio. The company stated that its core strategy to develop and commercialize improved protein kinase inhibitor (PKI) drugs using its HyNap technology remains unchanged, with its lead product candidate Dasynoc awaiting FDA approval with a decision date of October 7, 2025.
"The agreement confirms the value of our patent portfolio and demonstrates that our long-term work to build our comprehensive patent portfolio is paying off," said Per Andersson, CEO of Xspray Pharma.
According to the company, the agreement ensures that Xspray’s planned launch of Dasynoc can proceed without being affected by any United States regulatory exclusivities that may be associated with Handa’s product, which has not yet been launched.
Xspray Pharma, listed on Nasdaq Stockholm (Nasdaq Stockholm:XSPRAY), focuses on developing improved PKIs for cancer treatment using its proprietary HyNap technology platform.
The announcement was made in a press release statement from the company.
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