Kinex Pharmaceuticals and Zenith Technology Corp., through its affiliate ZenRx, have entered a collaborative licensing agreement granting Zenith commercial rights to Oraxol and Oratecan in New Zealand and Australia. ZenRx will provide an undisclosed upfront payment, milestones and royalties. Zenith will commit significant resources to the Oraxol and Oratecan global development programs, providing Kinex and its partner, Hanmi Pharmaceuticals with additional clinical programs to support global registrations.
The Orascovery technology has led to trials being conducted with both an oral formulation of paclitaxel (Oraxol), currently in Phase II in Korea, and an oral formulation of Irinotecan (Oratecan), which has completed a Phase I trial in Korea. Additional trials are being planned in both Korea and the U.S.
Johnson Lau, chief executive officer of Kinex Pharmaceuticals, said, "The commitment of Zenith Technology to work closely with Kinex and our partner Hanmi Pharmaceuticals in the development of Oraxol and Oratecan is a critical element of our global development strategy. We are very pleased to be working with the experienced Zenith team to move our clinical programs to the next stage."