On January 21, 2020 Denovo Biopharma LLC, a pioneer in applying precision medicine to develop innovative therapies, reported it has entered into an exclusive Option-to-License Agreement with Rumpus Therapeutics for selected indications for DB102 (Press release, Denovo Biopharma, JAN 21, 2020, View Source [SID1234553386]). Rumpus Therapeutics gains the option to acquire an exclusive license to develop and commercialize DB102 worldwide for rare genetic pediatric onset or congenital disorders outside of oncology. The agreement includes an upfront option payment, a fee to exercise the Option, and pre-negotiated milestones and royalties upon exercise of of the Option. Financial terms were not disclosed.
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"Denovo’s unique business model not only allows us to expedite the development of the drug in its original indication via precision medicine, it also retains the unlimited potential of these late-stage drugs in other indications," said Michael F. Haller, Denovo’s Chief Business Officer. "By executing this option we have capitalized on DB102 for indications outside oncology, and allowed Denovo to focus its resources on DLBCL and GBM. This deal also demonstrates that we can unlock the hidden value of these once-abandoned assets prior to the data readout of our pivotal trials and we plan on continuing to do so to maximize the value of our pipeline."
Dr. Greg Keenan from Rumpus Therapeutics said, "DB102 is a very well characterized molecule with an incredibly robust data package that we are excited to leverage. Consistent with our mission at Rumpus Therapeutics, we are excited to pursue the development of DB102 in a rare pediatric onset condition with no currently approved therapies and high mortality rates."