On May 27, 2016 Jubilant Biosys Ltd ("Jubilant Biosys"), a subsidiary of Jubilant Life Sciences Ltd, and Checkpoint Therapeutics, Inc. ("Checkpoint"), a subsidiary of Fortress Biotech, Inc. (NASDAQ: FBIO), reported the signing of an exclusive, worldwide license agreement under which Jubilant Biosys will out‐license to Checkpoint a family of patents covering compounds that inhibit BRD4, a member of the BET (Bromodomain and Extra Terminal) domain for cancer treatment (Press release, Fortress Biotech, MAY 27, 2016, View Source [SID:1234512842]). Schedule your 30 min Free 1stOncology Demo! The deal includes an up‐front payment of US $2 million and contingent preclinical, clinical and regulatory payments including commercial milestonestotalling up to US $180 million. Jubilant Biosys will also receive research funding and royalty payments on successful commercialization of the compounds. Checkpoint will assume all further preclinical, clinical development and commercialization responsibilities.
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The field of epigenetics as a treatment for cancer is a rapidly evolving area of focus for the pharmaceutical and biotech industry. Both parties believe that by working together to further develop these compounds, they will better be able to move towards bringing a product to market that will greatly improve the lives of patients.
Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co‐Chairman and Managing Director of Jubilant Life Sciences, commented, "The Drug Discovery business vertical under Jubilant Biosys and Jubilant Chemsys has acquired many years of extensive expertise and knowledge working with large pharma and biotech companies. Jubilant had decided to make strategic investments in proprietary drug discovery of small molecules with an intent to out‐licence the same for upfront payments and phased milestone payments/royalties. This agreement represents our first out‐licensing deal which is a testament to our investment in innovation in the pharmaceutical business."
James F. Oliviero, III, President and CEO of Checkpoint stated, "We are very pleased to be partnering with Jubilant Biosys to license a family of patents covering compounds that inhibit BRD4 for cancer treatment. This agreement enhances our current product portfolio of immuno‐oncology and targeted anti‐cancer agents. BET inhibitors have generated significant excitement within the oncology community and Jubilant’s asset provides us with additional opportunities to explore proprietary combinations and treatment options for patients. We appreciate Jubilant entrusting our organization to continue development of their exciting technology."