Ambrilia, Kotinos Sign Agreement For Sale Of PCK3145

Ambrilia and Kotinos have signed a Patent and Technology Purchase agreement, whereby Kotinos will acquire Ambrilia’s prostate cancer therapeutic PCK3145 and related assets.

Under the agreement, Ambrilia is eligible to receive up to $15 million in development and sales milestones, including an upfront payment of $200,000 and double-digit royalties on product net sales.

Nicholas Bacopoulos, chairman and CEO of Kotinos, said: PCK3145 provides us with the opportunity to develop an innovative therapy with potential to address the very high unmet medical need in advanced metastatic prostate cancer.

We are eager to continue the development of this exciting compound and to expand on the positive clinical findings obtained by Ambrilia in the conduct of their Phase 1 program. We are especially pleased that Dr. Chandra Panchal, coinventor of PCK3145, has joined our Scientific Advisory Board, bringing continuity to the project, he added.