Threshold Seals License Agreement With Eleison

Threshold Pharmaceuticals and Eleison Pharmaceuticals have executed a licensing agreement granting Eleison Pharmaceuticals exclusive worldwide rights to glufosfamide. Reportedly, Glufosfamide is a novel small molecule that has been evaluated by Threshold in a phase 3 clinical trial and multiple phase 2 clinical trials.

As per the agreement, Eleison is responsible for the development, manufacturing and marketing of glufosfamide. Eleison and Threshold will share the profits of commercialisation, if the further clinical development of glufosfamide leads to regulatory approval and marketing.

Further, Eleison plans to secure funding for the clinical development of glufosfamide. The agreement between Threshold and Eleison contemplates that Eleison, to satisfy its diligence obligations, is expected to raise sufficient funds to commence clinical development activities with glufosfamide.

Barry Selick, CEO of Threshold, said: “Eleison, with their focus on orphan drug indications and an experienced management team, is an ideal organisation to maximise the potential of glufosfamide, a drug candidate that we continue to believe should have a role in the treatment of cancer. Under this agreement, Eleison will assume full responsibility for the ongoing development of glufosfamide, freeing Threshold to continue to focus its efforts on TH-302. In return, Threshold will benefit from sharing in any financial upside that results from Eleison’s development and commercialisation efforts for glufosfamide.”