NEW YORK--(BUSINESS WIRE)--Phosplatin Therapeutics (“Phosplatin”) today announced it has granted a regional license for its platinum agent, PT-112, to a U.S. based pharmaceutical company with extensive operations in China (“the partner”) for development and commercialization in China and certain adjacent territories. The agreement grants the partner the rights to develop and market PT-112 in Greater China for use in the treatment of oncology indications.
PT-112 is a novel molecule, a member of the phosphaplatin family of compounds, currently undergoing Phase 1 clinical development in the U.S. as an anticancer agent in solid tumors. When compared to prior members of the platinum therapeutic class, PT-112’s unique electrochemistry and plasma stability engendered improved tolerability and safety, and in pre-clinical models proved highly efficacious, including in treatment resistant cell lines and patient-derived tumor models.
Under the terms of the agreement, Phosplatin has granted its partner exclusive development and commercialization rights to PT-112 in China, as well as the Hong Kong SAR, the Macau SAR, and Vietnam. The partner also has options to add Taiwan and South Korea to the territories covered by the agreement. In exchange, Phosplatin is eligible to receive upfront and milestone payments as well as tiered royalties based on commercial sales in the territory.
Phosplatin Therapeutics CEO Robert Fallon commented: “We are pleased to have a very reputable pharmaceutical partner license our drug PT-112 for Greater China. PT-112’s attributes and pleiotropic mechanism of action are being borne out in clinical study in the United States, and we are optimistic that this drug could have an immensely positive impact for patients throughout East Asia.”
About Phosplatin Therapeutics
Phosplatin Therapeutics is a private pharmaceutical development company engaged in the clinical development of phosphaplatins, a novel family of therapeutic compounds in oncology. The company’s work to date has been funded by private investors, with research initiatives in the United States, Europe and Asia. Its ongoing Phase I first-in-human study is being conducted by the Investigational Cancer Therapeutics group at The University of Texas MD Anderson Cancer Center in Houston, Texas, and at two other US sites, the Sarah Cannon Research Institute in Nashville, Tennessee, and the University of Colorado Cancer Center in Aurora, Colorado. Visit: www.phosplatin.com