RTP oncology firm G1 Therapeutics lands deal worth up to $46M for breast cancer drugDate Published:
RESEARCH TRIANGLE PARK – G1 Therapeutics has landed a deal with a China-based company to license an oncology drug. The deal could be worth as much as $46 million.
As part of the deal G! received a $6 million upfront payment plus future royalties and milestones from Genor Biopharma.
The deal is for lerociclib and covers the Asia-Pacific region excluding Japan.
According to G1 lerociclib is “designed to enable more effective combination treatment strategies.” It targets breast cancer.
Genor is currently developing eight novel, clinical-stage oncology compounds and recently completed a $160 million Series B financing led by Hillhouse Capital and Temasek Holdings.
Noted Mark Velleca, G1’s Chief Executive Officer. “This agreement is an important component of our corporate strategy to form partnerships that enable global access to our promising oncology therapies. We are excited to collaborate with Genor, a leading innovator in oncology with the development and commercialization expertise to advance this therapy on behalf of patients in China and other Asia-Pacific countries.”
How the company defines lerociclb: “Lerociclib is a differentiated oral CDK4/6 inhibitor being developed for use in combination with other targeted therapies in certain types of breast and lung cancer. Preliminary clinical data in estrogen receptor-positive, HER2-negative (ER+, HER2-) breast cancer have demonstrated proof-of-concept of the differentiated clinical profile of lerociclib versus currently marketed CDK4/6 inhibitors, with improved tolerability and less neutropenia. Neutropenia is one of the main toxicities associated with CDK4/6 inhibition. Current treatments require frequent blood testing for neutropenia. Less monitoring would mean fewer office visits and blood draws, improving the experience for patients and reducing the burden on physician offices and costs to the healthcare system.”
Original Article Source: WRAL TechWire