Carbetocin, developed by Marina Biotech, is a treatment for the core symptoms of autism.

As per the agreement, Marina Biotech is entitled to receive $750,000 as an upfront payment from Cypress.

Marina Biotech will also get funds from Cypress for continuing development activities and will receive single-digit royalties based on commercial sales, if any.

Subject to certain late-stage clinical and regulatory milestones, including approval in the US, Cypress may make up to $27m in additional payments to Marina Biotech.

Cypress chairman and CEO Jay Kranzler said that the intranasal formulation of Carbetocin is based on well-established pharmacology, and they believe that this therapy could be a breakthrough in the treatment of the core symptoms of autistic spectrum disorder.

“We plan to work expeditiously and expect to announce details regarding the clinical program in the coming months,” Kranzler said.