Date: 2015-07-20
Type of information: Licensing agreement
Compound: MCNA (Mycobacterium phlei Cell wall-Nucleic Acid complex)
Company: Telesta Therapeutics (Canada) BL&H Co (South Korea)
Therapeutic area: Cancer - Oncology
Type agreement: licensing supply distribution
Action mechanism: live product. MCNA is a biologic therapy developed to provide high risk non-muscle invasive bladder cancer patients who are refractory to or relapsing from front line therapy with bacillus Calmette-Guérin (BCG) with a therapeutic alternative to surgery. MCNA is derived from the cell wall fractionation of a non-pathogenic bacteria. Its activity is believed to be through a dual mechanism of immune stimulation and direct anticancer effects. MCNA was developed to be delivered as a sterile suspension for intravesical administration by urologists and urology nurses, following the same dosing paradigm as first-line BCG therapy, with the advantage that it can be prepared, handled and disposed of easily and safely.
Disease: high risk non-muscle invasive bladder cancer (NMIBC)
Details: * On July 20, 2015, Telesta Therapeutics announced that it has entered into an exclusive license, supply and distribution agreement with BL&H Co. Ltd., a leading Korean specialty pharmaceutical company, for the commercialisation of MCNA in South Korea. Telesta will be responsible for the manufacturing and supply of the drug product, while BL&H will cover all costs for registration, sales and marketing in the territory.
Financial terms: Under the terms of this partnership, Telesta will receive a combination of upfront payments, regulatory milestones and sales milestones in excess of US$2 million in addition to a significant transfer price, allowing Telesta to receive a large proportion of the revenue related to MCNA sales in South Korea. In addition, BL&H has concurrently subscribed for a private placement in Telesta common shares for an amount of US$200K at market price.
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