|3.50's a/h 540K float DD: Xynomic Pharma Acquires Global Exclusive Rights to Phase 2 Ready mTORC1/2 Inhibitor from Boehringer Ingelheim|
DOVER, Del. and SHANGHAI, Dec. 20, 2018 /PRNewswire/ -- Xynomic Pharmaceuticals, Inc. ("Xynomic"), a clinical stage US-China oncology drug development company, today announced that it has been granted an exclusive, worldwide license to develop, manufacture and commercialize BI 860585, a phase 2 ready mTORC1/2 inhibitor, from Boehringer Ingelheim International GmbH ("Boehringer Ingelheim").
BI 860585 is a potent and selective ATP-competitive mTOR serine/threonine kinase inhibitor. It has been tested in a phase 1 trial with 90 patients with advanced solid tumors as single agent, in combination with exemestane or paclitaxel. In this trial BI 860585 was well tolerated and disease control rates (partial response plus stable disease) were 20%, 28% and 58%, respectively.
Xynomic plans to initiate 2 clinical trials in the next 6-9 months, among which, one is a potentially pivotal phase 2 trial combining BI 860585 with a standard-of-care treatment against breast cancer and the other is a phase 1b trial combining BI 860585 with
Xynomic's XP-102 (formerly known as BI 882370) against colorectal cancer.
According to a press release by World Health Organization (WHO)'s International Agency for Research on Cancer dated September 12, 2018, breast cancer is the most commonly diagnosed cancer and the leading cause of cancer death in women. In addition, colorectal cancer is the second most commonly diagnosed cancer and the third leading cause of cancer death in women and the third most commonly diagnosed cancer in men. According to IMS and iHealthcareanalyst, drugs treating these two malignancies are expected to generate annual revenue of approximately $25.4 billion by 2023.
Total payments of Xynomic associated with the licensing agreement, including an upfront payment, regulatory milestone payments and potential royalties, will be up to $800 million.
Xynomic Pharmaceuticals, Inc. is a clinical stage oncology-focused biopharmaceutical company. Its current pipeline consists of 4 drug candidates; Xynomic owns global exclusive development, manufacturing and commercialization rights to each of these. Its lead drug candidate abexinostat is in global pivotal clinical trials against renal cell carcinoma and non-Hodgkin's lymphoma. Xynomic's pre-clinical pipeline consists of pan-RAF inhibitor XP-102 (BI 882370), TRK/Fra-1 inhibitor XP-103, and RET inhibitor XP-104.
Xynomic Pharmaceuticals, Inc. Will Present at ASCO 2019 Annual Meeting, Will Sponsor an EU Investigator Meeting for Potentially Pivotal Kidney Cancer Trial, and Appoints Interim Chief Accounting Officer
BISON CAPITAL ACQUISITION CORP. ANNOUNCES CLOSING OF ITS BUSINESS COMBINATION WITH XYNOMIC PHARMACEUTICALS, INC.
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