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Hanmi Pharmaceuticals to Acquire the Rights for a Promising Phase II Anti-cancer Src Kinase/Pretubulin Dual Inhibitor from Kinex Pharmaceuticals, in Selected Asian Territories
Date:4/20/2011

BUFFALO, N.Y., April 20, 2011 /PRNewswire/ --  Kinex Pharmaceuticals, LLC and Hanmi Pharmaceutical Co., Ltd. announced today the execution of a license agreement granting Hanmi Pharmaceuticals exclusive rights to their lead compound, KX01, for all oncology indications in selected Asian Territories.

KX01 (KX2-391) is a potent, orally available small molecule Src kinase/pretubulin dual mechanism inhibitor discovered and currently developed by Kinex Pharmaceuticals using its proprietary technology platforms Mimetica™ and Opal™. KX01 differentiates itself as an inhibitor that targets the kinase substrate pocket and therefore, offers an excellent efficacy as well as safety profile. The composition of matter of KX01 is covered by issued patents.

KX01 has been shown to be very effective against a broad range of cancers in both in vitro experiments and in animal cancer models. Importantly, the compound has synergistic/additive activities with most first line chemotherapeutic agents. A completed Phase I study, in patients with end-stage cancer, showed a desirable safety profile and clinical response in approximately 25% of the patients. Clinical data support either once or twice daily dosing. Phase II studies are ongoing.  

Under the terms of the agreement, Hanmi Pharmaceuticals will acquire the rights to the development and commercialization of KX01 for all oncology indications in certain Asian territories, including Korea, greater China and some Southeast Asian Countries. Japan, India, Australia and New Zealand are not included in this agreement. 

Hanmi Pharmaceuticals will assume all development responsibility and associated costs in the licensed territories and will participate with Kinex Pharmaceuticals on Phase III global registration studies. Hanmi Pharmaceuticals will also provide Kinex Pharmaceuticals with an up-front payment, milestone payments and royalties. A joint development team will be establis
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