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Champions Biotechnology signs licensing agreement with Yale University and SRI

Posted on: Thu, 19 Nov 2009 09:49:00 EST

Symbols: CSBRE

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Nov 19, 2009 (Datamonitor via COMTEX) --
CSBRE | Quote | Chart | News | PowerRating -- Champions Biotechnology has signed an exclusive licensing agreement with Yale University and Southern Research Institute, or SRI, for the development of Bithionol for cancer treatment.

Scientists from Yale and Southern Research found that Bithionol, a drug available for helminthic infections, shows activity against solid cancerous tumors and has the potential to treat melanoma, prostate, breast and lung cancer, among other cancers.

Under the terms of the agreement, Champions will have exclusive rights and be responsible for the further development of Bithionol for all oncology indications. Yale and Southern Research will receive an upfront payment and will be eligible to receive milestone payments and royalties. Additionally, the parties have agreed upon certain terms favorable to developing world markets.

Champions will use its predictive Biomerk Tumorgraft platform to assess the efficacy of the compound - alone and in combination with other compounds - to determine its optimal application and enable efficient clinical development. Upon successful results, Champions will move the compound forward into human clinical trials.

The work was funded, in part, by the Yale Clinical and Translational Science Award grant from the National Center for Research Resources at the National Institutes of Health.

Guy Malchi, head of corporate development at Champions Biotechnology, said: "The benefits of our predictive Tumorgraft evaluation are further enhanced by the fact that Biothionol is already available for a different indication. We therefore expect an accelerated regulatory path to proof of clinical concept."

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