Medivir enters exclusive licensing agreement with Biossil, Inc. for remetinostat
Summary by AI BETAClose X
Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR), a pharmaceutical company focused on developing innovative treatments for cancer in areas of high unmet medical need, announces today that it has entered into an exclusive licensing agreement, through which Biossil, Inc. will receive global, exclusive development rights for remetinostat, a clinical-stage topical HDAC inhibitor. Biossil is a Toronto-based AI-native drug developer focused on developing novel therapies for heterogenous diseases with urgent unmet medical needs.
Remetinostat has shown positive phase 2 data in basal cell carcinoma (BCC) as well as cutaneous T-cell lymphoma (CTCL). The terms of the agreement entitle Medivir, should remetinostat be successfully developed and approved, to receive payments up to a total of approximately USD 60 million, in addition to mid-single digit royalties on future net sales.
- “Agreements, such as the one announced today with Biossil, continue to be a core component of Medivir’s corporate mission and business model,” said Jens Lindberg, Chief Executive Officer of Medivir. “Today’s announcement further exemplifies our focus and commitment to the development and commercialization of innovative treatments for cancer, and we look forward to Biossil’s progress with remetinostat in the clinic and beyond.”
- “Remetinostat was identified with the same rigorous approach applied to all of Biossil candidates,” said Dr. Alexander Mosa, Co-Founder, Chief Scientific Officer and Chair of Biossil. “It meets our key criteria of promising clinical data, differentiated mechanism of action, and potential to address important unmet need. We are fortunate to have a supportive partner in Medivir, and we will resume development and advance remetinostat in accordance with its clinical potential.”
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