G1 Therapeutics and Deimos Biosciences Announce Global (Excluding Asia-Pacific) License Agreement for Lerociclib for Radioprotective Uses
May 22 2024 - 6:30AM
G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology
company, and Deimos Biosciences, a portfolio company of Jupiter
Bioventures, announced a global licensing agreement (excluding the
Asia-Pacific region) for lerociclib for radioprotective uses.
Lerociclib is a potent and selective inhibitor of cyclin-dependent
kinases 4 and 6 (CDK4/6). Such inhibitors can increase the survival
of animals exposed to radiation.
Jupiter Bioventures is a company creation engine that focuses on
de-risking early-stage projects, partnering with the world’s
leading biologists and physicians.
"Deimos Biosciences is an example of the diverse assets in the
Jupiter portfolio with tremendous potential benefit,” said
Nathaniel David, co-founder and Managing Director of Jupiter
Bioventures. “We are thrilled to see this program advance and to be
a part of developing a solution in an area of high unmet need."
Deimos Biosciences has the exclusive rights to develop,
manufacture, and commercialize lerociclib for certain
radioprotective uses in the US, Europe, Japan, and all other global
markets, excluding the Asia-Pacific region, which G1 has already
licensed to Genor Biopharma. In addition, Lerociclib was recently
licensed globally (excluding the Asia-Pacific region) to Pepper Bio
for all indications except for certain radioprotectant uses.
Under the terms of the agreement, G1 is expected to receive
shares of Deimos Biosciences’ common stock representing 10% of
Deimos Biosciences’ outstanding equity capitalization on a fully
diluted basis, in addition to a 20% royalty on aggregate annual net
sales of lerociclib.
"We are excited to partner with Deimos Biosciences on the
development of lerociclib for radioprotective measures," said Jack
Bailey, Chief Executive Officer of G1 Therapeutics. "This is an
area of critical need where lerociclib may hold meaningful promise
based on our previous work when G1 was being founded and we look
forward to advancing its development for this important
purpose."
About LerociclibLerociclib is a differentiated
oral CDK4/6 inhibitor based on its unique attributes, including its
increased selectivity and potency for CDK 4 and CDK 6 and shorter
half-life. Preliminary clinical data in hormone receptor-positive,
HER2-negative (HR+, HER2-) breast cancer have demonstrated
proof-of-concept of the differentiated clinical profile of
continuously dosed lerociclib versus currently marketed CDK4/6
inhibitors, with improved tolerability and less neutropenia while
maintaining robust clinical activity. Lerociclib has been licensed
to Genor Biopharma in the Asia-Pacific region (excluding Japan) and
is under National Medical Products Administration review in China
for 1L and 2L HR+/HER2- breast cancer. Lerociclib was recently
licensed globally (excluding the Asia-Pacific region) to Pepper Bio
for all indications except for certain radioprotectant uses.
About Jupiter BioventuresJupiter Bioventures
builds extraordinary biotech companies from the ground up. With
deep experience and capital access, Jupiter identifies
transformational ideas from biotech innovators around the world and
creates companies with audacious goals. For more information on
Jupiter Bioventures and its portfolio, please visit
www.jupiter.bio.
About G1 TherapeuticsG1 Therapeutics, Inc. is a
commercial-stage oncology biopharmaceutical company whose mission
is to develop and deliver next-generation therapies that improve
the lives of those affected by cancer, including the Company’s
first commercial product, COSELA® (trilaciclib). The Company is
also evaluating therapies in combination with cytotoxic therapies
and/or immunotherapy in areas of high unmet need including
triple-negative breast cancer and extensive stage small cell lung
cancer. G1’s goal is to provide innovative therapeutic advances for
people living with cancer. G1 is based in Research Triangle Park,
N.C. For additional information, please visit
http://www.g1therapeutics.com and follow us on X (formerly known as
Twitter) @G1Therapeutics and LinkedIn.
G1 Therapeutics® and the G1 Therapeutics logo and COSELA® and
the COSELA logo are trademarks of G1 Therapeutics, Inc.
Forward Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as
"may," "will," "expect," "plan," "anticipate," “could”, “believe,”
“goal”, “projections,” "estimate," "intend," “indicate,”
“potential,” “promising,” “opportunity,” “suggest,” and similar
expressions (as well as other words or expressions referencing
future events, conditions or circumstances) are intended to
identify forward-looking statements. Forward-looking statements in
this press release include, but are not limited to, statements
regarding the anticipated benefits of the licensing agreement
between Pepper Bio and G1 Therapeutics, the potential of lerociclib
as a treatment for certain radioprotective uses, and the
anticipated development and commercialization plans for lerociclib,
and are based on the Company’s expectations and assumptions as of
the date of this press release. Each of these forward-looking
statements involves risks and uncertainties. Factors that may cause
the company’s actual results to differ from those expressed or
implied in the forward-looking statements in this press release are
discussed in the company’s filings with the U.S. Securities
and Exchange Commission, including the "Risk Factors" sections
contained therein, and include, but are not limited to, the
Company’s dependence on the commercial success of COSELA
(trilaciclib); the development and commercialization of new drug
products which is highly competitive; the Company’s ability to
complete clinical trials for, obtain approvals for, and
commercialize any of its product candidates; the Company’s initial
success in ongoing clinical trials, which may not be indicative of
results obtained when these trials are completed or in later stage
trials; the inherent uncertainties associated with developing new
products or technologies and operating as a commercial-stage
company; and chemotherapy shortages and market conditions. Our
business is subject to substantial risks and uncertainties,
including those referenced above. Investors, potential investors,
and others should give careful consideration to these risks and
uncertainties. Except as required by law, the company assumes no
obligation to update any forward-looking statements contained
herein to reflect any change in expectations, even as new
information becomes available.
Contacts:
Jupiter Bioventures Contact:David
ButtaroCommunicationsdbuttaro@jupiter.bio
G1 Therapeutics Contact Will
RobertsCommunications OfficerVice President, Investor Relations and
Corporate Communications(919) 907-1944
wroberts@g1therapeutics.com
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