Biotechnology firm AUM Biosciences has entered a global licence agreement for Inflection Biosciences’ series of PIM/PI3K/mTOR inhibitor molecules.

Under the alliance, AUM Biosciences will receive exclusive global rights for the development, manufacture, and commercialisation of the molecules.

In turn, the company will make an upfront payment, milestone payments and also pay royalties on future product sales to Inflection.

Specific financial details of the agreement have not been disclosed.

AUM Biosciences also recently acquired selective Mnk inhibitor AUM001 from Agency for Science, Technology and Research (A*STAR) in Singapore.

AUM Biosciences CEO Vishal Doshi said: “With 60% of cancers worldwide diagnosed in Asia, we are committed to accelerating the development of high potential molecules for the benefit of patients in the region.

“Our unique Asia to global approach to development aims to ensure that crucial drugs are made available for Asian patients in the shortest timeframe, as well as those in need globally.”

As part of the latest collaboration, the company will initially develop lead candidate IBL302 (now AUM302), an oral kinase inhibitor that targets pan-PIM kinase, pan-PI3K and mTOR.

The molecule is currently in pre-clinical development across various cancer types. It has been studied in more than 700 cancer cell lines and demonstrated potential in breast and lung cancers, leukaemia, and neuroblastoma.

AUM Biosciences intends to assess AUM302 both as monotherapy and combination treatment. It plans to launch investigational new drug (IND)-enabling clinical trials for the drug candidate by 2021.

Inflection Biosciences CEO Darren Cunningham said: “Inflection Biosciences is committed to developing innovative targeted therapeutics for the benefit of cancer patients worldwide.

“We are pleased to partner with AUM Biosciences who will bring considerable drug development experience and expertise to ensure AUM302 is advanced towards regulatory approval in Asia and globally.”

In addition to these licensed molecules, Inflection’s is also working on a PIM/PI3K inhibitor, IBL-202, and selective pan-PIM kinase inhibitors known as the IBL-100 series.