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news.GLG Pharma has taken over the exclusive worldwide rights to a technology platform that includes a series of STAT3 inhibitors, under a licensing agreement signed with Moffitt Cancer Center.
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As per the terms of the license agreement, GLG Pharma has agreed to pay Moffitt when various commercialisation milestones are reached, as well as make royalty payments on the sales of testing services and licensed products.
Moffitt Drug Discovery Department chair Said Sebti said that persistently activated STAT3 is a major contributor to human cancer; validating its usefulness as a cancer therapeutic target in collaboration with GLG will be a major milestone.
Moffitt Office of Technology Management and Commercialisation senior licensing manager Ray Carpenter said that one of several recent startup companies to be based on Moffitt technologies, GLG brings an experienced management team to the mix.
“Their combined experience in taking technologies through clinical trials instills confidence that these technologies surrounding an important target, like the STAT3 pathway, is being placed in capable hands,” Carpenter said.
“Our office is delighted that GLG Pharma will move this technology from the laboratory to the clinic to improve patient care.”
GLG Pharma CEO Hector Gomez said that STAT3 inhibitors are anticipated to be very specific, have a broad spectrum of activity and are expected to be well tolerated and more efficacious compounds than current therapies.