Aptose Biosciences Inc., a clinical-stage company developing highly differentiated therapeutics that target the underlying mechanisms of cancer, announced an exclusive global license agreement that provides OHM Oncology with the rights for the development, manufacture and commercialization of APL-581, as well as related molecules from Aptose’s dual bromodomain and extra-terminal domain motif (BET) protein and kinase inhibitor program.
Aptose will retain reacquisition rights to certain molecules, while OHM will have the rights to develop and sublicense all other molecules.
“We are pleased to formalize a new phase of our partnership with OHM Oncology, which originated in late 2015 from the work performed by its R&D partner LAXAI Life Sciences (LAXAI) on a discovery stage program,” said William G. Rice, Ph.D., Chairman, President and Chief Executive Officer. “We have every faith that OHM can advance the program to the next stage and create value for both organizations and valuable therapeutics for cancer patients.”
Under the agreement, Aptose will receive a nominal upfront cash payment and is eligible to receive up to $125 million of additional payments based on the achievement of certain development, regulatory and sales milestones, as well as significant royalties on future sales generated from the program.
Aptose Biosciences is a clinical-stage biotechnology company committed to developing personalized therapies addressing unmet medical needs in oncology. Aptose is advancing new therapeutics focused on novel cellular targets on the leading edge of cancer.
LAXAI Life Sciences was established in 2007 with a vision to innovate and accelerate the drug discovery campaigns of global pharmaceutical companies, and OHM Oncology (OHM) was formed in 2016 to advance the clinical development of compelling oncology molecules.