Date: 2015-03-17
Type of information: Product acquisition
Compound: CEP-32496 (RXDX-105), CEP-40783 (RXDX-106), CEP-40125 (RXDX-107),TEV-44229 (RXDX-108)
Company: Teva Pharmaceutical Industries (Israel) Ignyta (USA - CA)
Therapeutic area: Cancer - Oncology
Type agreement: product acquisition
Action mechanism: kinase inhibitor/antineoplastic agent CEP-32496 (RXDX-105) is a small molecule inhibitor of BRAF, EGFR and RET kinases. This drug candidate has been discovered by Ambit Biosciences. This californian company has been acquired by Daiichi Sankyo in November, 2014. CEP-40783 (RXDX-106) is a highly selective, pseudo-irreversible inhibitor of AXL and cMET that is in late preclinical development. CEP-40125 (RXDX-107) is a nanoformulation of a modified bendamustine with potential activity in solid tumors that is in late preclinical development TEV-44229 (RXDX-108) is a selective inhibitor of the atypical kinase PKCiota that is in preclinical studies.
Disease:
Details: * On March17, 2015, Teva Pharmaceutical Industries and Ignyta, a precision oncology biotechnology company,announced the acquisition by Ignyta of the worldwide rights and assets relating to four targeted oncology development programs in exchange for 1.5 million shares (6%) of Ignyta\'s common stock. Concurrently, Ignyta has entered into stock purchase agreements with Teva, and selected additional healthcare investors, whereby Teva will purchase a further 1.5 million shares of common Ignyta stock at a price of $10 per share in a registered direct offering.Teva has agreed not to sell or otherwise transfer any of these shares until March 17, 2016 , and Ignyta is required to register the resale of these shares with the Securities and Exchange Commission ( SEC ) prior to such date. The development programs Ignyta purchased from Teva include CEP-32496, which Ignyta has renamed RXDX-105, a potent small molecule inhibitor of BRAF, EGFR and RET that is currently in a Phase I/II dose escalation clinical trial (NCT01877811); CEP-40783, which Ignyta has renamed RXDX-106, a potent, highly selective, pseudo-irreversible inhibitor of AXL and cMET that is in late preclinical development; CEP-40125, which Ignyta has renamed RXDX-107, a nanoformulation of a modified bendamustine with potential activity in solid tumors that is in late preclinical development; and TEV-44229, which Ignyta has renamed RXDX-108, a potent, selective inhibitor of the atypical kinase PKCiota that is in preclinical studies. Ignyta has also acquired next generation PKCiota inhibitors in addition to the lead compound. Ignyta also assumed all of Teva\'s ongoing obligations under certain contracts relating to the purchased programs, including the agreements under which Teva in-licensed rights to the assets.
Financial terms: Under the terms of the asset purchase agreement with Teva, Ignyta is acquiring all of Teva\'s assets and worldwide rights relating to four oncology development programs in exchange for 1.5 million shares of Ignyta\'s common stock. Teva has agreed not to sell or otherwise transfer any of these shares until March 17, 2016 , and Ignyta is required to register the resale of these shares with the Securities and Exchange Commission ( SEC ) prior to such date.
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