 "Jubilant Life Sciences' Gajraula (UP) facility")
Jubilant Biosys Ltd, a subsidiary of Jubilant Life Sciences Ltd, and Checkpoint Therapeutics Inc, a subsidiary of the US-based Fortress Biotech Inc, have signed 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.
“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,” said Shyam Bhartia, chairman and Hari Bhartia, co-chairman and managing director of Jubilant Life Sciences, in a joint statement.
As per the deal, signed on May 27, 2016, Jubilant Biosys will receive an upfront payment of $ 2 million and contingent preclinical, clinical and regulatory payments including commercial milestones totalling up to $ 180 million. Jubilant Biosys will also receive research funding and royalty payments on successful commercialisation of the compounds. Checkpoint will assume all further preclinical, clinical development and commercialisation responsibilities.
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.
James Oliviero, 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 organisation to continue development of their exciting technology.”
Checkpoint Therapeutics Inc is an immunooncology biopharmaceutical company focused on the acquisition, development and commercialisation of novel, non-chemotherapy, immune-enhanced combination treatments for patients with solid tumour cancers. Checkpoint aims to acquire rights to these technologies by licensing the rights or otherwise acquiring an ownership interest in the technologies, funding their research and development and eventually either out-licensing or bringing the technologies to market.
