Date: 2017-02-14
Type of information: Milestone
Compound: adenosine receptor antagonist programme including V81444 (CPI-444)
Company: Vernalis (UK) Corvus Pharmaceuticals (USA - CA)
Therapeutic area: Cancer - Oncology
Type agreement: licensing
Action mechanism: adenosine receptor antagonist
Disease:
Details:
- • On January 6, 2016, Vernalis announced Corvus Pharmaceuticals as its licensee for their adenosine antagonist program. In February 2015, the company licensed exclusive, worldwide rights in its adenosine receptor antagonist programme for use in all therapeutic applications to Corvus. At the time the name of the company was not disclosed and nor was the initial therapeutic focus.
Corvus was launched through a $33.5 million Series A fundraising in 2014 by the founder and former senior management at Pharmacyclics Inc. and it raised a further $75m (Series B) in September 2015.
The lead molecule, CPI-444 is a patented small molecule that has been evaluated in Phase I and II clinical trials under an IND in the U.S. Corvus brings a wealth of clinical and commercial expertise and experience and is looking to develop CPI-444 for immuno-oncology, with clinical studies expected in 2016.
- • On February 26, 2015, Vernalis announced that it has licensed exclusive, worldwide rights in its adenosine receptor antagonist programme, including the lead drug candidate, V81444, for use in all therapeutic applications to a well-funded, US-based biotechnology company. The licensing party is a private US company, that has raised a large Series A round with leading venture capital investors, and brings a management team with a wealth of clinical and commercial expertise and experience to this programme. V81444 is a patented molecule that has been evaluated in phase I and II clinical trials under an IND in the US. Its initial development was focused on ADHD and other neurological diseases. Commenting on the new relationship,
Financial terms:
- The transaction includes a $1 million upfront payment and has the potential for Vernalis to earn over $200 million subject to development, regulatory and sales milestones being achieved. In addition there are single digit royalties payable if a product reaches the market, with the potential to reach double digit royalties in certain circumstances.
Latest news:
- • On February 14, 2017, Vernalis announced the achievement of a clinical milestone from its collaboration with Corvus Pharmaceuticals triggering a payment of $3 million to Vernalis. CPI-444 is now being evaluated in a Phase 1/1b trial in patients with advanced cancers. This molecule is being developed both as a single agent and in combination therapy. The clinical trial utilizes an adaptive design that allows expansion of disease-specific cohorts upon reaching certain pre-defined endpoints.
- Corvus announced positive data from its Phase 1/1b study in January 2017, having achieved the clinical study protocol criteria for expansion in the cohort of patients with renal cell carcinoma with single agent CPI-444. This study expansion triggers the first clinical milestone payment of $3 million under the licensing agreement. Corvus has stated that, if early findings are confirmed with longer follow up and a larger set of patients in this expanded study, a registration trial could commence by the end of 2017.
Is general: Yes
