Kancera gains a strong partner for the further development of their HDAC inhibitors
"We are pleased to enter this partnership with Grünenthal, a strong partner capable to further optimize this promising series of HDAC inhibitors and progressing them through development and clinical testing. The agreement is in line with Kancera's strategy to enter into collaborations with partners that can accelerate the company's preclinical projects, enabling Kancera to focus available resources on the clinical phase of the company's Fractalkine project,” says Thomas Olin, CEO of Kancera AB.
Under the terms of the agreement, Kancera will receive an upfront payment of 0,3 million EUR, together with several milestone payments during the course of development and commercialization, amounting to up to 33,15 million EUR in total, as well as sales related royalties. Further financial terms are not disclosed. Kancera retains exclusive rights to a series of HDAC inhibitors that are primarily suitable for the treatment of cancer. Kancera also retains the right to develop new HDAC inhibitors deriving from this collaboration for cancer and in agreement with Grünenthal.
About HDAC inhibitors
HDAC inhibitors have shown to affect disease processes such as inflammation, pain and cancer. Preclinical tests have shown Kancera's substances to be highly potent, with a high degree of selectivity over other HDAC enzymes. They also show good absorbtion into the body after oral delivery and these properties, taken together, make them a suitable starting point for the identification of candidates that may be effective treatment options against several types of diseases.
Grünenthal is an entrepreneurial, science-based pharmaceutical company specialized in pain, gout and inflammation. Our ambition is to deliver four to five new products to patients in diseases with high unmet medical need by 2022 and become a € 2 bn company. We are a fully integrated research & development company with a long track record of bringing innovative pain treatments and state-of-the-art technologies to patients. By sustainably investing in our R&D above the industrial average, we are strongly committed to innovation.
Grünenthal is an independent, family-owned company headquartered in Aachen, Germany. We are present in approx. 30 countries with affiliates in Europe, Latin America and the US. Our products are sold in more than 100 countries and approx. 5,200 employees are working for Grünenthal worldwide. In 2017, Grünenthal achieved revenues of approx. € 1.3 bn.
More information: www.grunenthal.com
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LinkedIn: Grunenthal Group Twitter: @grunenthalgroup Instagram: gruenenthal
Kancera develops the basis for new therapeutics, starting with new treatment concepts and ending with the sale of a drug candidate to international pharmaceutical companies. Kancera is currently developing drugs for the treatment of inflammation and cancer, by regulating the immune system, blocking survival signals in the cancer cell and addressing repair mechanisms. Kancera’s operations are based in the Karolinska Institute Science Park in Stockholm and the company employs around 15 people. Kancera shares are traded on NASDAQ First North and the number of shareholders was more than 7400 as of September 30th, 2018. FNCA is Kancera’s Certified Adviser. MD PhD Charlotte Edenius, MD PhD Anders Gabrielsen, Professor Carl-Henrik Heldin samt Professor Håkan Mellstedt are board members and Kancera’s scientific advisers.
For further information, contact:
Thomas Olin, CEO: +46-(0)735-20 40 01
Kancera AB (publ)
Karolinska Institutet Science Park
SE 171 48 Solna
Welcome to visit our home-page; www.kancera.comBack