Under the terms of the collaboration, Cytopia has out-licensed specific proprietary technology to Cancer Therapeutics for an undisclosed kinase enzyme target with potential for treating metastatic cancers.
Under the project plan, Cancer Therapeutics will conduct and fund further development of the Cytopia compounds for at least two years. Cancer Therapeutics will undertake responsibility for the further development of Cytopia’s early compounds towards a preclinical candidate compound which is capable of further development into and through clinical trials.
Cytopia will retain an option over exclusive commercialization rights for any drug candidates delivered by the collaboration. Should Cytopia choose not to exercise this option, Cancer Therapeutics may proceed with commercialization activities. In the event that all milestones to registration are successfully achieved, both Cancer Therapeutics and Cytopia will share in any partnering revenues, as well as royalty payments from a marketed drug.