BUFFALO, N.Y., April 20, 2011 /PRNewswire/ — Kinex
Pharmaceuticals, LLC and Hanmi Pharmaceutical Co., Ltd. announced
today the execution of a license agreement granting Hanmi
Pharmaceuticals exclusive rights to their lead compound, KX01, for
all oncology indications in selected Asian Territories.
KX01 (KX2-391) is a potent, orally available small molecule Src
kinase/pretubulin dual mechanism inhibitor discovered and currently
developed by Kinex Pharmaceuticals using its proprietary technology
platforms Mimetica™ and Opal™. KX01 differentiates
itself as an inhibitor that targets the kinase substrate pocket and
therefore, offers an excellent efficacy as well as safety profile.
The composition of matter of KX01 is covered by issued patents.
KX01 has been shown to be very effective against a broad range
of cancers in both in vitro experiments and in animal cancer
models. Importantly, the compound has synergistic/additive
activities with most first line chemotherapeutic agents. A
completed Phase I study, in patients with end-stage cancer, showed
a desirable safety profile and clinical response in approximately
25% of the patients. Clinical data support either once or twice
daily dosing. Phase II studies are ongoing.
Under the terms of the agreement, Hanmi Pharmaceuticals will
acquire the rights to the development and commercialization of KX01
for all oncology indications in certain Asian territories,
including Korea, greater China and some Southeast Asian Countries.
Japan, India, Australia and New Zealand are not included in this
agreement.
Hanmi Pharmaceuticals will assume all development responsibility
and associated costs in the licensed territories and will
participate with Kinex Pharmaceuticals on Phase III global
registration studies. Hanmi Pharmaceuticals will also provide Kinex
Pharmaceuticals with an up-front payment, milestone payments and
royalties. A joint development team will be establis
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