Triangle firm lands deal worth up to $310M for breast cancer treatmentDate Published:
RESEARCH TRIANGLE PARK – G1 Therapeutics has landed a licensing del worth up to $310 million not counting royalties for a breast cancer treatment it currently has under development.
G1 (Nasdaq: GTHX) announced the deal with EQRx late Wednesday. It covers drug rights in all global markets other than Asia-Pacific (outside Japan).
The treatment, called lerociclib, earler was lincehsed to Genor Biopharma for Asia-Packaet markets outside of Japan.
The deal calls for G1 to receive an upfront payment of $20 million and milestone development payments for as much as $290 million.
If the drug receives regulatory approval G1 would receive royalties.
“We are excited to partner with EQRx to further development of lerociclib, a differentiated oral CDK4/6 inhibitor designed to enable more effective combination treatment strategies,” said Mark Velleca, Chief Executive Officer of G1. “This is the third strategic collaboration we have executed this year. Collectively, these partnerships have advanced our goal to provide global access to our promising oncology therapies and extend our financial runway so that we can continue our efforts to bring novel treatments to patients with cancer.”
According to the company, “lerociclib has demonstrated clinical proof-of-concept and a differentiated profile in a Phase 1/2 trial in patients with ER+, HER2- breast cancer.”
Original Article Source: WRAL TechWire