Novogen and Marshall Edwards (MSHL) have signed a license agreement for MSHL to develop and commercialize the oncology compound, NV-128.
The terms of the license consist of – a single upfront payment of $1.5 million to Novogen, a series of payments for reaching the milestones of US Investigational New Drug (IND) approval, entering human testing at phases II and III, and receipt of a New Drug Application for marketing and a royalty on sales of 5%.
MSHL will fund the ongoing clinical programs and is responsible for the commercial development of the drug.
Bryan Williams, chairman of MSHL, has said that in-licensing of the mTOR inhibitor NV-128 is an exciting extension to the MSHL portfolio. Each of the drugs in the company portfolio has the benefit of preclinical activity against hard to treat cancers and an expected safety profile that makes their potential as effective anti-cancer agents highly promising.
NV-128 has a different mode of action to our current drug candidates and its advantages over other mTOR inhibitors auger well for an exciting and valuable addition to the pharmaceutical armamentarium of new cancer treatments, Mr. Williams added.