- AUM will receive worldwide rights excluding Korea in all indications
- Handok, CMG (combined market cap of >1 Trillion KRW) will execute a stock purchase program with AUM Biosciences
- CHC2014 is a highly selective TRK kinase inhibitor with excellent efficacy in vitro and safety profile in humans
- CHC2014 has the potential of overcoming the acquired resistance like mutations
AUM Biosciences (“AUM”), a global, clinical stage biotechnology company focused on discovering, acquiring and developing next generation targeted oncology therapeutics today announced it has entered into a strategic collaboration agreement with Handok Inc [002390: KOSPI] (“Handok”) and CMG Pharmaceutical Co. Ltd [KOSDAQ: 058820] (“CMG”) for the worldwide (ex-Korea) development, manufacturing and commercialisation rights of a highly specific, safe and efficacious Pan-TRK inhibitor. Financial terms of the agreement were not disclosed.
CHC2014 is completing a Phase I in Korea and has shown promising data to justify advancement to a tumor agnostic registrational program. CHC2014 has shown superior in-vivo anti-tumor activity compared to available treatment options. It has shown strong efficacy on solvent front and gatekeeper mutations addressing a unique solution to the current challenge in TRK Inhibitor market.
“We are glad to enter in a partnership with AUM to advance the global development of innovative targeted cancer therapy CHC2014, which is being co-developed by Handok-CMG-NOV and was successfully studied in phase 1 trial in Korea. After successful development of CHC2014 by AUM management with global capability, we expect that CHC2014 can help improving the lives of patients with rare cancers” commented by Young-Jin Kim, Chairman and CEO of Handok, Inc.
CHC2014, once developed as a new pan-TRK inhibitor, will provide another solution to cancer patients with TRK-fusion”, and “We expect AUM Biosciences specializing for target-specific anti-cancer small molecules to successful global development and commercialization of CHC2014 for the patients”, said Mr. Joohyung Lee, CEO of CMG Pharmaceutical.
AUM “portfolio-model” strategy has made significant progress since its establishment through strategic collaborations and partnerships with leading academic institutions and pharmaceutical and biotech companies globally.
“We thank Handok and CMG for its trust in AUM and its continued support in further developing the CHC2014 asset worldwide. We are very encouraged by the clear scientific and clinical differentiation that CHC2014 presents as compared to the other TRK inhibitors” commented Vishal Doshi, CEO, AUM Biosciences. “We are delighted to onboard Handok and CMG as a strategic investor in AUM”