CHOSA Oncology AB out-license clinical-stage cancer vaccine candidate to Magle Group
CHOSA Oncology AB, today announces that the company has out-licensed the clinical-stage therapeutic cancer vaccine candidate onilcamotide to Magle Group. Magle Group plans to further develop onilcamotide by use of its proprietary degradable starch microspheres (DSM) technology. The company sees a future potential to combine onilcamotide treatment with its already approved vascular embolic product EmboCept® S.
Onilcamotide is a clinical-stage therapeutic cancer vaccine candidate targeting RhoC, an over-expressed protein in metastatic cancer cells. Onilcamotide is a peptide that forms a fragment of RhoC, and when introduced into the body, it triggers the immune system to attack the cells that overexpress RhoC.
“We have identified an interesting opportunity to exploit synergies between onilcamotide, our in-house DSM technology, and our already approved chemoembolization product EmboCept S. Through limited and responsible investments, we will now initiate activities with the aim to establish proof-of-concept for a reformulated version of onilcamotide. This constitutes an important first step in our long-term aim of bringing the drug candidate towards a potential marketing approval for a niche indication,“ says Justin Pierce, CEO of Magle Group.
CHOSA Oncology’s CEO, Peter Buhl comments: “With the out-licensing of Onilcamotide to Magle Group I believe the asset has found the right home for successful development. Onilcamotide is an asset CHOSA's got from the RhoVac acquisition. The deal includes a royalty agreement. We wish Magle good luck and success with unlocking the value of the asset”
Under the licensing agreement, which covers onilcamotide and related intellectual properties, CHOSA Oncology AB will receive an upfront payment to recover costs related to patent fees. Magle Group shall take over the patent maintenance alongside a royalty obligation following the potential future commercialization of the product.
This disclosure contains information that Chosa Oncology AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 16-05-2023 11:02 CET.
