Spectrum Closes Asset Purchase and License for a Novel Immuno-Oncology Platform including Two Early Stage Assets.
M2 PHARMA-May 15, 2019-Spectrum Closes Asset Purchase and License for a Novel Immuno-Oncology Platform including Two Early Stage Assets
(C)2019 M2 COMMUNICATIONS
- US-based biopharmaceutical company Spectrum Pharmaceuticals, Inc. (NASDAQ-GS: SPPI) has closed an asset purchase and license agreement with biotechnology company ImmunGene, Inc., the company said.
This deal includes an exclusive license for the intellectual property related to the FIT antibody-interferon fusion technology drug delivery platform originally developed by scientists at UCLA.
The license also includes two novel assets derived from this platform. The first asset is an antibody-interferon fusion molecule directed against CD20 (Anti-CD20-IFN?).
This drug candidate is in Phase 1 development for treating relapsed or refractory non-Hodgkin lymphoma, including diffuse large b-cell lymphoma patients where a considerable unmet medical need exists.
Research for this programme received financial support through the Therapy Acceleration Program of The Leukemia and Lymphoma Society, Inc., and an LLS research grant to UCLA.
The second asset is an antibody-interferon fusion molecule directed against GRP94, a target for which currently there are no existing approved therapies.
It has the potential for treating both solid and hematologic malignancies.
Originally developed by scientists at UCLA and licensed to Spectrum by UCLA Technology Development Group, the FIT platform fuses interferon with various monoclonal antibodies targeting various tumor antigens.
Interferons are highly potent and well-established anticancer cytokines but have been associated with significant dose-related side effects.
The FIT technology may be able to maintain the potency and efficacy of interferon while reducing toxicity traditionally associated with interferon therapy.
FIT therapies have potential application as single agents or in combination with other therapies, such as checkpoint inhibitors.
Under the terms of the agreement, Spectrum will pay an upfront cash payment of approximately USD 3m, up to USD 156m in development and sales milestones, and royalties on net sales in the high-single digits.
Spectrum Pharmaceuticals is a biopharmaceutical company focused on acquiring, developing, and commercialising novel and targeted drug products, with a primary focus in hematology and oncology.
Spectrum has a strong track record of successfully executing across the biopharmaceutical business model, from in-licensing and acquiring differentiated drugs, clinically developing novel assets, successfully gaining regulatory approvals, and commercialising in a competitive healthcare marketplace. Spectrum has a late-stage pipeline with novel assets that serve areas of unmet need.
This pipeline has the potential to transform the company in the near future.
UCLA Technology Development Group serves as a campus-wide gateway to Innovation, Research and Entrepreneurship.
TDG promotes UCLA innovation, research, teaching and entrepreneurship to benefit society, creates economic value to support UCLA's scholarly and educational missions and the State of California, and leads UCLA's research community to bring innovation to market.
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|Date:||May 15, 2019|
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