Rafael Pharmaceuticals Enters into Out-Licensing Agreement with Ono Pharmaceutical to Accelerate Clinical Development and Commercialization of Cancer Drug Candidate CPI-613® (devimistat) i...
Rafael Holdings, Inc. Class B (RFL)
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Company Research
Source: GlobeNewswire
Cranbury, NJ, June 25, 2019 (GLOBE NEWSWIRE) -- Rafael Pharmaceuticals, Inc. (“Rafael” or the “Company”), a leader in the growing field of cancer metabolism-based therapeutics, announced today that it has entered into an out-licensing agreement with Ono Pharmaceutical Co., Ltd. (“Ono”), a pharmaceutical company committed to creating innovative medicines. The exclusive license agreement is for the development and commercialization of CPI-613® (devimistat), Rafael’s first-in-class clinical lead compound, which targets cancer metabolism enzymes, as well as its other related compounds. Under the terms of the agreement, Rafael will receive a one-time upfront payment of approximately $12.9 million USD and up to an additional approximately $150.3 million USD if certain development and commercial milestones are achieved. Rafael will also receive low-double digit royalties based on net sales of the Products in Japan, South Korea, Taiwan and ASEAN (Association of Southeast Asian Nations)
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Sec Filings
- 4/8/24 - Form 4
- 3/25/24 - Form 4
- 3/25/24 - Form 4
- RFL's page on the SEC website