Business
Global Licensing of FL3+Aurora Programme
Global Licensing of FL3+Aurora Programme.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 6316H\n Sareum Holdings PLC\n 26 March 2020\n \n \n \n \n (AIM: SAR)\n \n \n 26 March 2020\n \n \n \n \n \n Sareum Holdings plc\n \n \n (\"Sareum\" or the \"Company\")\n \n \n Sareum Signs Global Licensing Deal for its FLT3+Aurora Kinase Inhibitor Programme with a China-based Specialty Pharma Company\n \n Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, is pleased to announce that it has entered into an agreement (the \"Agreement\") with a China-based specialty pharmaceutical company (the \"Licensee).\n Under the terms of the Agreement, the Licensee has been granted an exclusive worldwide licence to develop, manufacture and commercialise certain small molecule inhibitors of FLT3+Aurora kinases including Sareum's lead candidate SAR-20293 (together the \"Compounds\"), which has shown potential in preclinical models of acute myeloid leukaemia (AML) and other leukaemias.\n The Licensee is principally engaged in research and development, production and sales of innovative drugs, including oncology drugs, in China and is listed on the main market of the Shanghai Stock Exchange.\n Under the terms of the Agreement, the Licensee will fund all future development activities in relation to the Compounds and has been granted sole rights to market any resulting products worldwide.\n Sareum will receive an initial upfront payment of approximately £50,000. A further payment of approximately £0.9 million will be payable to Sareum if certain milestones related to the oral bioavailability of the Compounds are achieved within nine months from the date of the Agreement (the \"Development Payment\"). \n Sareum will assign certain patents in respect of the Compounds to the Licensee upon receipt of the Development Payment. The Agreement may be terminated with immediate effect if Sareum does not receive the Development Payment within nine months of the date of the Agreement.\n Sareum will also be entitled to receive a future milestone payment in the event that an Investigational New Drug or equivalent application is made in China or any other country.\n Under the Agreement, Sareum is also eligible to receive certain revenues from the commercialisation of the products by the Licensee outside of China. In addition, Sareum would be eligible to receive commerci...