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news.China's pharma company, Xiangxue Pharmaceuticals, has executed a license agreement with US based Kinex Pharmaceuticals, as part of its overall business strategy to expand their small molecule franchise.
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Under the terms of the agreement, Xiangxue Pharma will acquire the rights to the development and commercialization of Kinex Pharmaceuticals’ KX02 for all oncology indications in greater China, including China, Hong Kong, Taiwan, and Singapore.
KX02 is a lipophilic dual src/pretubulin inhibitor that has shown potent inhibitory activity against a broad panel of brain tumor cell lines, including cells that are resistant to Temodar, the widely used chemotherapy for the treatment of malignant glioma.
Xiangxue will provide Kinex with an up-front payment, development milestone payments and royalties associated with product sales, as per the deal.
Kinex Pharmaceuticals is planning to file an investigational new drug application (IND) in early third quarter of 2012 to initiate phase 1 clinical studies.