Tyme Technologies has entered a strategic collaboration with Eagle Pharmaceuticals for cancer metabolism-based therapy (CMBT) candidate oral SM-88.

The collaboration will leverage combined capabilities to support oral SM-88 trials and commercialisation.

SM-88 is an oral investigational modified proprietary tyrosine derivative designed to disturb the metabolic processes of cancer cells triggering cell death through oxidative stress.

In clinical trials, the candidate has demonstrated positive responses against 15 different cancers.

Tyme chairman and CEO Steve Hoffman said: “This alliance provides Tyme with the commercial and capital resources to advance our leadership position in the field of cancer metabolism and the potential to expand our capabilities and accelerate clinical programmes that will create value for all of our stakeholders, most importantly for the patients we serve.”

As agreed, Tyme will receive a $20m upfront cash payment from Eagle for ten million restricted shares of TYME common stock. Tyme is also entitled to receive another $20m on achieving any among the three agreed milestones.

The parties also signed a co-promotion agreement, under which, Eagle Pharmaceuticals will take up 25% of the sales effort for SM-88 in the US oncology market. For this, it will receive 15% of the net revenues of SM-88 in the country.

Tyme has the option to buy Eagle’s co-promotion right for $200m.

The companies also agreed to explore oral SM-88 as combination therapy or monotherapy using Eagle’s oncological expertise.

Eagle Pharmaceuticals CEO Scott Tarriff said: “This collaboration provides an excellent opportunity to continue expanding our presence in the oncology space, as well as to evaluate potential combination opportunities with SM-88 in our existing pipeline.

“We look forward to leveraging our oncology sales infrastructure to maximise the commercialisation of SM-88 in the US if approved.”