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news.Chemokine Therapeutics has amended certain terms of its license agreement with the University of British Columbia related to milestone payments.
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Under the terms of the license agreement with UBC, signed in September 1999, Chemokine was required to make milestone payments for certain technologies related to the company’s cancer drug candidate CTCE-9908, or CTCE-0214, which is being investigated for role in aiding immune system recovery. UBC modified these milestone obligations to align with the company’s current development plans.
The UBC license grants the company exclusive worldwide rights to research, develop and commercialize certain patented technologies, which remain the property of UBC. The licensed technology relates to therapeutics involving stromal cell-derived factor 1, or SDF-1, peptide antagonists and agonists which are currently applicable to Chemokine’s drug candidates CTCE-9908 and CTCE-0214.
“This has allowed us to strengthen our proprietary position under the agreement,” said Richard Piazza, chairman and CEO of the company.
Chemokine Therapeutics develops chemokine-based therapies to treat cancer, blood disorders, and vascular diseases.