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news.Dainippon Sumitomo Pharma (DSP) and Boston Biomedical (BBI) have signed a product option license agreement for BBI608 for all oncology indications in Japan and exclusive right of negotiation for BBI608 for the US and Canada.
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BBI608 is a first-in-class, cancer stem cell inhibitor, currently in clinical development.
Through its undisclosed molecular target, BBI608 simultaneously inhibits multiple key cancer cell stemness pathways.
BBI608 targets malignant cancer stem cells (CSCs) as well as heterogeneous cancer cells.
In clinical trials to date, it has shown safety, favorable pharmacokinetics, and encouraging signs of anticancer activity against a broad range of tumor types.
It is currently in phase I extension in colorectal cancer and phase Ib/II trials for combination therapy with paclitaxel for selected solid tumor types.
Under the terms of the agreement, BBI will receive $15m of upfront payment and clinical trial support upon signing.
Based on the outcome of the clinical trials, DSP has the option to acquire exclusive rights for the development and commercialization for BBI608 in Japan.
During this option agreement period, DSP will pay a maximum of $55m for part of the development costs of BBI608 and for continuation of the option.
Assuming DSP exercise the option for Japan, upon successful clinical development and commercialization of BBI608 in Japan, BBI could receive a maximum of approximately $100m in aggregate, including milestone payments associated with successful development and commercialization, in addition to running royalties.