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news.US-based Kinex Pharmaceuticals has entered into a new licensing agreement with Taiwanese pharmaceutical firm PharmaEssentia providing it the exclusive development and commercial rights of its Oraxol and Oratecan drugs in Taiwan and Singapore.
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Under the deal, Kinex will receive an upfront payment, milestones and royalties, while PharmaEssentia has committed to carryout clinical studies in Taiwan to contribute to the global registration programs for Oraxol, used in gastric cancer patients and Oratecan, used for colon cancer treatment.
The companies also have a licensing agreement in certain Asian territories for the dermatology preparations of Kinex’s dual Src/Pretubulin Inhibitor, KX01.
Oraxol and Oratecan are two of many compounds that could be developed by Kinex and its partners through the Orascovery program, which is based on a major platform technology developed by Hanmi Pharmaceuticals using compound HM30181A, a potent and selective P-glycoprotein (PGP) pump inhibitor.
Kinex chief medical officer Rudolf Kwan said PharmaEssentia has both the leadership strength and development expertise to help accelerate the global registration programs for Oraxol and Oratecan.
"We are confident that our combined efforts will lead to even more rapid development successes for Oraxol, Oratecan and KX01," Kwan said.
PharmaEssentia CEO Ko-Chung Lin said based on existing treatment algorithms, the company believes these compounds can bring unique benefits to the global healthcare system including, of course, Taiwan and Singapore.
"Importantly, we believe these late stage products can be on the market in 2-3 years," Lin said.
"It is clear that patients and doctors need additional options when treating challenging diseases like cancer.
"PharmaEssentia is excited to help create these new options as part of the Kinex, Hanmi and ZenRx team."
Kinex has recently dosed first patient in its Phase Ib Oraxol trial in the US, while the drug is currently in Phase II trials in Korea and intends to start a Phase I trial in New Zealand in 2014.
The company has also completed a Phase I trial of Oratecan in Korea and has released positive results.
Trials of both Oraxol and Oratecan suggest that these potent, oral versions of paclitaxel and irinotecan will impact a broad spectrum of cancers.
Image: Oraxol and Oratecan are two of many compounds that could be developed by Kinex and its partners through the Orascovery program. Photo: courtesy of antpkr/ freedigitalphotos.net