Cytopia announces novel anti-cancer drug development collaboration
Cytopia Limited announced that it has entered into an anti-cancer drug discovery and development collaboration with Cancer Therapeutics CRC Pty Ltd. This agreement leverages Cytopia's early stage drug discovery pipeline of kinase inhibitors, a class of targeted therapeutics that is one of the fastest growing segments of the cancer drug market.
Cytopia will retain an option over exclusive commercialisation rights for any drug candidates delivered by the collaboration. Should Cytopia choose not to exercise this option, Cancer Therapeutics may proceed with commercialisation activities. In the event that all milestones to registration are successfully achieved, both Cancer Therapeutics and Cytopia will share in any partnering revenues, as well as royalty payments from a marketed drug.
Under the terms of the collaboration, Cytopia has out-licensed specific proprietary technology to Cancer Therapeutics for an undisclosed kinase enzyme target with potential for treating metastatic cancers. Development of an inhibitor of this particular kinase could have blockbuster potential in the cancer market. Under the project plan, Cancer Therapeutics will conduct and fund further development of the Cytopia compounds for at least two years.
Cytopia's advanced anti-cancer drug program includes four drug applications in Phase I and Phase II clinical programs in calendar 2008. Trials are advanced for both oral and injectable vascular disrupting agents (VDAs), multiple myeloma and an aggressive brain tumor glioblastoma multiforme (GBM).
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