SINGAPORE and SAN DIEGO, Jan. 21 /PRNewswire/ -- S*BIO Pte Ltd and Tragara Pharmaceuticals Inc. today announced that S*BIO has granted a worldwide exclusive license to Tragara to develop and commercialize its novel multi-kinase inhibitor SB1317.
Under the terms of the agreement S*BIO is eligible to receive up to US$112.5 million in payments. This includes an upfront fee, development and sales milestone payments and up to double-digit royalties. Additionally, S*BIO will perform certain preclinical activities for Tragara under a defined workplan in return for research fees. Tragara is responsible for all IND enabling, development and commercialization activities under the agreement.
SB1317 is a novel orally-available, multi-kinase inhibitor with excellent pharmacological and pharmaceutical properties. SB1317 development will be initially focused on the treatment of hematologic malignancies and Tragara will also explore the therapeutic potential of the compound's activity in solid tumors.
"Our entire Tragara team is excited about adding SB1317 to our product pipeline," said Thomas M. Estok, President and CEO of Tragara. "S*BIO successfully identified a promising compound for the treatment of hematological and potentially solid tumors and we look forward to further profiling the compound and moving it toward clinical development."
"We are pleased to work with Tragara in rapidly advancing SB1317 through IND enabling studies to the clinic. We chose Tragara as a partner due to a combination of their experience, exciting clinical development plans and commitment to speed. Together we will determine the full breadth of the compound's competitive advantages in a series of preclinical profiling studies prior to Tragara advancing this product through parallel tracks of clinical development," said Dr. Jan-Anders Karlsson, CEO of S*BIO.
About Tragara Pharmaceuticals Inc
|SOURCE S*BIO Pte Ltd|
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