SAN DIEGO, Jan. 21, 2020 /PRNewswire/ -- Denovo Biopharma LLC, a pioneer in applying precision medicine to develop innovative therapies, today announced it has entered into an exclusive Option-to-License Agreement with Rumpus Therapeutics for selected indications for DB102.
SAN DIEGO, Jan. 21, 2020 /PRNewswire/ -- Denovo Biopharma LLC, a pioneer in applying precision medicine to develop innovative therapies, today announced it has entered into an exclusive Option-to-License Agreement with Rumpus Therapeutics for selected indications for DB102. Rumpus Therapeutics gains the option to acquire an exclusive license to develop and commercialize DB102 worldwide for rare genetic pediatric onset or congenital disorders outside of oncology. The agreement includes an upfront option payment, a fee to exercise the Option, and pre-negotiated milestones and royalties upon exercise of of the Option. Financial terms were not disclosed.
"Denovo's unique business model not only allows us to expedite the development of the drug in its original indication via precision medicine, it also retains the unlimited potential of these late-stage drugs in other indications," said Michael F. Haller, Denovo's Chief Business Officer. "By executing this option we have capitalized on DB102 for indications outside oncology, and allowed Denovo to focus its resources on DLBCL and GBM. This deal also demonstrates that we can unlock the hidden value of these once-abandoned assets prior to the data readout of our pivotal trials and we plan on continuing to do so to maximize the value of our pipeline."
Dr. Greg Keenan from Rumpus Therapeutics said, "DB102 is a very well characterized molecule with an incredibly robust data package that we are excited to leverage. Consistent with our mission at Rumpus Therapeutics, we are excited to pursue the development of DB102 in a rare pediatric onset condition with no currently approved therapies and high mortality rates."
About Denovo Biopharma
Denovo Biopharma is a clinical stage biopharmaceutical company that applies novel biomarker approaches to re-evaluate medicines that have failed in broad patient populations. The company seeks to discover genomic biomarkers correlated with patients' responses to drug candidates retrospectively. Denovo then designs and executes efficient clinical trials in targeted patient populations to optimize the probability of a successful trial. Denovo is enrolling patients in the U.S. and China with diffuse large B-cell lymphoma (DLBCL) in a Phase 3 clinical trial and will start a phase 2B study in Glioblastoma (GBM) for its lead product candidate, DB102, which was in-licensed from Eli Lilly. The company has four additional late stage programs targeting major unmet needs: DB103 for schizophrenia, DB104 for depression, DB105 for Alzheimer's Disease, and DB106 for acute myeloid leukemia (AML). For additional information please visit www.denovobiopharma.com.
Michael F. Haller, Chief Business Officer
Denovo Biopharma LLC
About Rumpus Therapeutics
We are dedicated to advancing innovative science for neglected pediatric diseases. Rumpus Therapeutics is a biopharmaceutical company focused on drug development for rare and orphan diseases predominantly those with pediatric onset and for which there are no currently approved therapies. For additional information please visit www.rumpustx.com.
Nate Massari, Co-Founder
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SOURCE Denovo Biopharma LLC