Thursday, July 20, 2017
Oncology Venture AB and Novartis Pharma AG (Basel, Switzerland) have entered into an agreement providing Oncology Venture with an option right to execute an exclusive license to develop and commercialize an undisclosed small molecule, kinase inhibitor in clinical development. The molecule has been explored in multiple therapeutic indications including a variety of solid tumors. Further terms of the agreement were not disclosed.
Under the option agreement, OV will evaluate whether it can suitably develop and validate a companion diagnostic for the drug using its proprietary DRP™ biomarker platform.
“Oncology Venture is excited to explore the opportunity to enhance the development of the molecule. We are confident that by using our Drug Response Predictor (DRPTM) to select patients we will raise the chances of success for the molecule in clinical development. A drug specific DRP biomarker could then be consequentially used as a predictive companion diagnostic to identify likely responders” said Peter Buhl Jensen, M.D., CEO of Oncology Venture.
