Novartis Pharma have sold the exclusive worldwide rights to two oral clinical-stage cancer drugs to the Shanghai, China-based Laekna.
The candidates are oral pan-Akt kinase inhibitors. Over ten clinical Phase I/II studies for afuresertib (ASB183) and uprosertib (UPB795) have been conducted in several cancer indications including ovarian and gastric cancer, multiple myeloma, melanoma and other indications. These trials demonstrated positive proof-of-concept results for clinical efficacy and tolerable safety profiles in cancer patients. Novartis will have an equity stake in Laekna, along with upfront and development milestone payments and royalties on future sales.
"Novartis is a global leader in oncology drug innovation," said Dr. Chris Lu, founder and CEO of Laekna. "This is the second licensing agreement between Laekna and Novartis, adding to the previous licensing of CFG920 less than a year ago. We have demonstrated to Novartis that Laekna is a valuable collaborator with our strong commitment, experienced team and financing support from the top investment partners."
Read the full release