On August 16, 2021 Medivir AB (Nasdaq Stockholm: MVIR) reported that Medivir AB ("Medivir" or "the Company") together with the originators of remetinostat, and TetraLogic Pharmaceuticals Corporation and The Leukemia & Lymphoma Society ("the Stakeholders") have restructured and streamlined the financial obligations for remetinostat, a topical histone deacetylase (HDAC) inhibitor, for the treatment of cutaneous T-cell lymphoma (CTCL) and potentially other types of skin cancers (Press release, Medivir, AUG 16, 2021, View Source [SID1234586659]). The purpose of the new agreement is to create improved business development opportunities.
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Medivir acquired remetinostat from TetraLogic in 2016. The original arrangements between Medivir and the Stakeholders included milestone payments with predetermined amounts as well as royalty obligations to the Stakeholders when Medivir develops, markets or out-licenses remetinostat. The original agreement has been renegotiated so that the compensation Medivir is obliged to pay in a potential future out-licensing of remetinostat is based solely on the distribution of actual future revenues to Medivir.
"It is very satisfying that we now have renegotiated a new agreement which aligns and benefits all parties and creates significantly improved conditions for a potential out-licensing or sale in our continued business development efforts related to remetinostat," says Magnus Christensen, Interim CEO, Medivir AB.
Medivir AB is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on August 16, 2021.
About remetinostat
Remetinostat is a topical histone deacetylase (HDAC) inhibitor. A clinical phase II study in mycosis-fungoides cutaneous T-cell lymphoma (MF-CTCL) has been completed demonstrating that remetinostat reduced severity of CTCL skin lesions with an objective response rate (ORR) of 40%. The study also showed a clinically significant reduction in the severity of pruritus (itching) in 80% of the patients. In addition, two investigator-initiated phase II studies have been conducted at Stanford University in the USA, demonstrating efficacy in both Basal Cell Carcinoma (BCC) and cutaneous Squamous Cell Carcinoma (SCC). Results from the BCC study was recently published, and publication of final data from the SCC study is now being prepared.