NewLink Genetics Corp (NASDAQ:NLNK) reported an exclusive worldwide license agreement with Ellipses Pharma for the development of and rights to commercialize NLG207.
The company, out of Ames, Iowa, says the license agreement was effective as of December 17. Under the terms of the agreement, Ellipses purchased NewLink’s inventory of NLG207 related materials, and NewLink will have the potential to receive future royalty payments or a share of any future economics related to NLG207.
As part of the license agreement, Ellipses also gained the rights to develop and commercialize CRLX-301, a nanoparticle formulation of docetaxel that has completed a Phase 1a study.
According to company CEO Eugene Kennedy, "We are pleased to announce today this license agreement with Ellipses for NLG207, a compound which showed encouraging Phase 2 results in refractory ovarian cancer as presented at the American Association for Cancer Research (AACR) conference in April 2019.
"We are delighted that this agreement provides a path forward for this promising agent while allowing NewLink to focus on our core priorities.”
Ellipses Pharma is a global drug development company focused exclusively on the development of innovative cancer medicines and treatments.
NewLink Genetics is a clinical-stage biopharmaceutical company that has historically focused on developing novel immunotherapeutic products for the treatment of patients with cancer.
Last September, NewLink announced its intent to merge with Lumos Pharma, a private clinical-stage biopharmaceutical company targeting rare and neglected diseases.
Shares climbed 18 cents, or 9.2%, to $2.13
