Financial details of the agreement were not disclose, but both companies will have the potential for future cost-, risk- and profit-sharing for this product candidate after Kolltan completes early clinical testing.
“This in-licensing opportunity exemplifies our leadership in and focus on receptor tyrosine kinases and their key role in oncology and other serious diseases,” commented Dr. Jerry McMahon, Kolltan’s president and chief executive officer. “Kolltan will apply its extensive scientific expertise and R&D drug development experience to prepare for entry into the clinic, including a focus on patient selection strategies. Kolltan is excited to advance this innovative product candidate into clinical testing for the broad potential treatment of cancer patients where this target plays a role.”
Dr. Bahija Jallal, executive vice president, MedImmune, added, “Kolltan’s team has a substantial track record in oncology and possesses a unique understanding of the science of the HER3 target. As such, we believe Kolltan will optimize development of this innovative and differentiated product candidate, which was first discovered and developed at MedImmune.”