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- Biotechnology company Kazia Therapeutics (KZA) has entered into an exclusive worldwide licence agreement with Oasmia Pharmaceutical
- The company has licensed its drug candidate Cantrixil to Oasmia for approximately A$5.15 million, plus contingent milestone payments and royalties
- Under the agreement, Oasmia will have worldwide exclusive rights to develop and commercialise the drug candidate
- Oasmia expects to start a Phase II study of Cantrixil against ovarian cancer in 2022
- Kazia Therapeutics closed 3.4 per cent in the red, to trade at $1.28 per share
Biotechnology company Kazia Therapeutics (KZA) has entered into an exclusive worldwide licence agreement with Oasmia Pharmaceutical.
The licence agreement has to do with Cantrixil, Kazia’s clinical-stage, first-in-class ovarian cancer drug candidate. The company has licensed Cantrixil to Oasmia, giving the pharmaceutical company exclusive rights to develop and commercialise the drug candidate.
Under the agreement, Oasmia will pay US$4 million (approximately A$5.15 million) to Kazia upfront for the worldwide exclusive rights to Cantrixil. Oasmia will also pay contingent milestone payments of up to US$42 million (roughly A$54 million) and double-digital royalties on commercial sales.
Kazia has already conducted a phase one study of Cantrixil therapy in ovarian cancer patients, which produced promising results in December 2020. Oasmia will continue this work by developing and commercialising the drug candidate for all indications but with an initial focus on ovarian cancer.
Oasmia expects to start a phase two study of Cantrixil against ovarian cancer in 2022.
Kazia’s CEO, Dr James Garner, commented that the company is delighted to find a partner for Cantrixil’s further development in Oasmia.
“Oasmia possesses deep expertise in the field of ovarian cancer, and also brings to Cantrixil in a highly commercial focus, world-class formulation capabilities, and an extensive network of clinician relationships in Europe and the US,” he said.
“This transaction follows the release of very encouraging top-line data from the phase I study of Cantrixil last year,” he added.
Kazia Therapeutics closed 3.4 per cent in the red, to trade at $1.28 per share.
