Medivir enters into licensing agreement with Ubiquigent for preclinical program USP7
STOCKHOLM, Sweden, Feb. 10, 2021 /PRNewswire/ -- Medivir AB (Nasdaq Stockholm: MVIR) announced today that it had entered into a license agreement with Ubiquigent Limited (Ubiquigent) for Medivir's preclinical USP7 research program. Under the terms of the agreement, Medivir has granted Ubiquigent an exclusive worldwide license to develop and commercialize the program including all associated compounds across any therapeutic indication(s) in return for agreed revenue share upon successful development or commercialization by Ubiquigent.
Ubiquitin specific peptidase 7 (USP7) is a deubiquitylating (DUB) enzyme that has been linked to cancer due to its ability to deubiquitylate substrates that regulate key oncogenic, DNA-damage response and tumor initiating pathways. Inhibitors of USP7 therefore represent an exciting opportunity to be effective treatments in targeted patient populations in oncology either as a monotherapy or in combination therapies.
Ubiquigent has established itself as a respected partner in the DUB field with a strong track record in the development of small molecule DUB inhibitors both through supporting the drug discovery efforts of its partners and by the strengthening of its own portfolio of novel DUB inhibitors. This latest agreement builds upon an existing long-term relationship between the parties and directly supports Ubiquigent's strategy to build and commercialize a strong IP portfolio of novel DUB inhibitors.
- "We are very pleased that Medivir's research program aimed at the development of USP7 inhibitors has been licensed to Ubiquigent. With an excellent track-record and strong research capabilities within the DUB field, we believe that Ubiquigent is perfectly positioned to further progress the USP7 program. We look forward to Ubiquigent's successful development of the USP7 assets", said Fredrik Öberg, CSO at Medivir.
- "This agreement with Medivir is a tremendous endorsement of our approach and represents a significant milestone for Ubiquigent. We look forward to continuing to support our partners in the development of exciting new therapeutics around USP7 and other DUBs of therapeutic relevance by providing a highly druggable approach to protein degradation", said Ubiquigent's Managing Director, Jason Mundin.*
Jason Mundin, Managing Director, Ubiquigent Ltd, phone: +44 (0) 7976 000683
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
Company Codes: Stockholm:MVIRB, Bloomberg:MVIRB@SS, ISIN:SE0000273294, RICS:MVIRB.ST