Viracta Therapeutics, Inc. today announced that it has reacquired the exclusive rights to develop and commercialize its all-oral combination product candidate in the People’s Republic of China previously licensed to Shenzhen Salubris Pharmaceuticals Co., Ltd.
Viracta now controls global rights to its all-oral combination regimen of nanatinostat and valganciclovir |
[23-August-2021] |
SAN DIEGO, Aug. 23, 2021 /PRNewswire/ -- Viracta Therapeutics, Inc. (NASDAQ: VIRX), a precision oncology company targeting virus-associated malignancies, today announced that it has reacquired the exclusive rights to develop and commercialize its all-oral combination product candidate in the People's Republic of China previously licensed to Shenzhen Salubris Pharmaceuticals Co., Ltd. (Salubris). Pursuant to the mutual termination agreement between Viracta and Salubris, all development and commercialization rights under the license have been returned to Viracta in exchange for a $4.0 million cash payment to Salubris. "We thank the Salubris team for their support of Viracta and their collaborative contributions. As Viracta's strategic focus remains in precision oncology and Salubris focuses their development efforts on cardiovascular and related disease areas, we agreed the reversion of these rights to Viracta was in the best interest of patients," said Ivor Royston, M.D., President and Chief Executive Officer of Viracta. "China represents an important geographical region for the treatment of patients with EBV-associated cancers. We believe regaining the development and commercial rights in China will enable Viracta to expand our global development strategy and has the potential to unlock significant, long-term and unencumbered value to our shareholders." Viracta's combination therapy of nanatinostat, its proprietary investigational drug, and valganciclovir is currently being evaluated in a global Phase 2 pivotal trial for the treatment of patients with Epstein-Barr virus-positive (EBV+) lymphoma. Viracta has also received United States Food and Drug Administration clearance of an Investigational New Drug application to proceed into a global Phase 1b/2 trial evaluating its combination therapy in patients with EBV+ recurrent or metastatic nasopharyngeal carcinoma and other EBV+ solid tumors. Initiation of this Phase 1b/2 trial is expected in the second half of 2021. About Nanatinostat About Viracta Therapeutics, Inc. For additional information please visit www.viracta.com. Forward-Looking Statements These risks and uncertainties may be amplified by the COVID-19 pandemic, which has caused significant economic uncertainty. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" and elsewhere in Viracta's reports and other documents that Viracta has filed, or will file, with the SEC from time to time and available at www.sec.gov. The forward-looking statements included in this communication are made only as of the date hereof. Viracta assumes no obligation and does not intend to update these forward-looking statements, except as required by law or applicable regulation. Investor Relations Contact: Viracta Contact:
SOURCE Viracta |
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Company Codes: NASDAQ-NMS:VIRX |