Benzinga | Mar 1, 2021 08:39AM EST

Kazia Therapeutics Licenses Cantrixil To Oasmia Pharmaceutical For Ovarian Cancer

Kazia Therapeutics Ltd (NASDAQ: KZIA) has entered an exclusive worldwide licensing agreement with Oasmia Pharmaceutical AB (OTC:OASMY) for Cantrixil under development the treatment of ovarian cancer.

* The agreement will see Sweden-based Oasmia assume exclusive worldwide rights to develop and commercialize Cantrixil for all indications, with an initial focus on ovarian cancer.

* Oasmia's lead product, Apealea (paclitaxel micellar), is approved in Europe for adult patients with the first relapse of platinum-sensitive epithelial ovarian cancer, primary peritoneal cancer, and fallopian tube cancer, and is in late-stage development in the U.S.

* Oasmia expects to commence a Phase 2 study of Cantrixil in ovarian cancer in 2022.

* Under the terms of the agreement, Oasmia will make an upfront payment of $4 million to Kazia, with contingent milestone payments of up to $42 million and double-digit royalties on commercial sales.

* Cantrixil is a proprietary formulation of the potent and selective third-generation benzopyran, TRX-E-002-1, that targets the entire spectrum of cancer cells, including chemotherapy-resistant tumor-initiating cells (cancer stem cells) thought to be responsible for disease relapse.

* In December last year, Kazia announced a Phase 1 study's top-line results and determined the maximum tolerated dose of Cantrixil to be 5 mg/kg.

* Price Action: KZIA closed 3.9% lower at 9.9 on Friday.