Jubilant Biosys Ltd., a subsidiary of Jubilant Life Sciences Ltd., and Checkpoint Therapeutics, Inc. entered an exclusive, worldwide license agreement under which Jubilant Biosys will out-license to Checkpoint a family of patents covering compounds that inhibit BRD4, a member of the BET (Bromodomain and Extra Terminal) domain for cancer treatment.  
 
Jubilant Biosys will receive $2 million upfront and preclinical, clinical, regulatory, and commercial milestones of as much as $180 million, as well as research funding and royalties upon commercialization. Checkpoint will assume all further preclinical, clinical development and commercialization responsibilities.
 
Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman and managing director of Jubilant Life Sciences, commented, “Jubilant had decided to make strategic investments in proprietary drug discovery of small molecules with an intent to out-licence the same for upfront payments and phased milestone payments/royalties. This agreement represents our first out-licensing deal which is a testament to our investment in innovation in the pharmaceutical business.”
 
James F. Oliviero, III, president and chief executive officer of Checkpoint said, “This agreement enhances our current product portfolio of immuno-oncology and targeted anti-cancer agents. BET inhibitors have generated significant excitement within the oncology community and Jubilant’s asset provides us with additional opportunities to explore proprietary combinations and treatment options for patients. We appreciate Jubilant entrusting our organization to continue development of their exciting technology.”