Aims to create value from portfolio of compounds and programmes
Global contract healthcare services organisation AMRI has signed a licensing agreement with Bessor Pharma, a translational drug development company based in Framingham, MA, US for the development of AMRI's ALB 109564(a) tubulin inhibitor compound, which is in late Phase I trials for the treatment of cancer.
Under the terms of the agreement, AMRI will receive an undisclosed option fee and reimbursement for certain costs associated with the IP related to the compound. The option period is approximately eight months, during which time Bessor Pharma will conduct further due diligence, engage in the required fund raising and coordinate with AMRI a technology transfer and advanced development plan.
Upon exercising the option, Bessor Pharma will receive an exclusive licence to the ALB 109564(a) IP, and be solely responsible for all related r&d and patent costs.
AMRI will receive royalties on sales of any ALB 109564(a)-related drug from the agreement, in addition to the potential to earn additional revenue as the manufacturer of the drug itself.
AMRI chairman and ceo Thomas D'Ambra said: ‘We believe this novel compound offers good potential to advance the effectiveness of treatment against certain types of cancer in humans. The tubulin program is one of the assets that we have developed from our past r&d investments.
‘As we have stated previously, we will continue to pursue strategic opportunities to enable AMRI to advance the clinical development of our other compounds or programmes to create near and long-term value for the company.’