South Korean-based Hanmi Pharmaceutical and Roche’s Genentech have signed an agreement to develop and commercialise the former’s pan-RAF inhibitor HM95573.
RAF kinases are one of the mitogen activated protein kinases (MAP Kinase) that transduce signals in cells, especially B-RAF and C-RAF that are known to be associated with different cancer types.
Under the agreement, Genentech will obtain exclusive worldwide rights, excluding South Korea, to develop and commercialise the oral RAF inhibitor, which is currently in Phase I clinical development.
Hanmi will initially receive $80 million and is eligible for payments after it achieves certain predetermined development, regulatory and commercialisation milestones of up to $830 million.
The company will also receive royalties on sales of certain products resulting from the agreement.
Hanmi Pharmaceutical CEO / president Dr Gwan Sun Lee said: “We are pleased to collaborate with Genentech, which has significant expertise in the field of oncology.
”We are excited at the potential this licence agreement with Genentech will bring to the development of HM95573 and the potential benefit this may offer to cancer patients worldwide.”
Completion of this deal is subject to US customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Genentech Partnering senior vice-president and global head James Sabry said: “This collaboration demonstrates our commitment to bringing the best science in the world to Genentech, with the ultimate goal of developing life-changing therapies for people with cancer.
“We are excited to partner with Hanmi and leverage their scientific insights to develop novel therapies that target the MAPK pathway.”