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A global deal to develop Unibioscreen’s UNBS 5162 breakthrough cancer drug for patients with advanced solid tumours or lymphoma has been finalised with Drais Pharmaceuticals.
Unibioscreen will receive development and regulatory payments up to USD 31 million (GBP 17 million), in addition to commercial milestone payments, which Drais said is “excellent value for both partners”.
UNBS 5162 is currently in phase I trials in the US. Denis Biju-Duval, Head of ING Belgium Corporate Investments, said: “The agreement illustrates the ability of Unibioscreen to successfully exploit its unique technology and know-how.”
Dr Donna Tempel, president and chief executive officer of Drais Pharmaceuticals, said: “This is an important milestone for Drais as we focus on building a portfolio of novel therapeutics.”
Christiane Verhaegen, chief executive officer and chief financial officer of Unibioscreen, said: “This is a key milestone for both the development of the drug candidate and for the company as it provides validation of Unibioscreen’s promising pipeline of potential cancer treatments in addition to monetary benefits.
“We are confident that Drais’ experienced team will maximise the progression of UNBS 5162, and believe this agreement will provide excellent value for both partners.”
Copyright PA Business 2008
