Medivir AB has announced an exclusive licensing agreement with Biossil Inc. for the global development of remetinostat, a topical HDAC inhibitor currently in clinical phase 2 trials.
Under the terms of the deal, Biossil will receive worldwide rights to develop remetinostat, which has shown positive data in basal cell carcinoma and cutaneous T-cell lymphoma. If successfully developed and approved, Medivir could receive up to USD 60 million in milestone payments, along with mid-single digit royalties on future net sales.
Jens Lindberg, Chief Executive Officer of Medivir, said: “Agreements, such as the one announced today with Biossil, continue to be a core component of Medivir’s corporate mission and business model. Today’s announcement further exemplifies our focus and commitment to the development and commercialization of innovative treatments for cancer, and we look forward to Biossil’s progress with remetinostat in the clinic and beyond.”
Biossil, based in Toronto, is an AI-native drug developer focused on therapies for heterogenous diseases with urgent unmet medical needs. The company plans to resume development of remetinostat using its proprietary approach.
Dr Alexander Mosa, Co-Founder, Chief Scientific Officer and Chair of Biossil, explained: “Remetinostat was identified with the same rigorous approach applied to all of Biossil candidates. It meets our key criteria of promising clinical data, differentiated mechanism of action, and potential to address important unmet need. We are fortunate to have a supportive partner in Medivir, and we will resume development and advance remetinostat in accordance with its clinical potential.”
The agreement marks a strategic step for both companies in the pursuit of innovative cancer treatments.
