Sprint Bioscience licenses the VADA (VRK1) program to Day One Biopharmaceuticals
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
Sprint Bioscience AB (publ) has licensed the global rights to its cancer program VADA (VRK1) to Day One Biopharmaceuticals Inc. The total potential value of the agreement amounts to US$ 316 million plus single-digit royalties on sales of a future drug from the program. Upon entering into the agreement, Sprint Bioscience will receive an upfront payment of US$ 3 million. In addition, Sprint Bioscience will project-lead the program and be reimbursed for continuing preclinical research and development activities in the coming two years.
“We are very proud to present that Sprint Bioscience has entered into a license agreement with Day One Biopharmaceuticals. This agreement is yet another confirmation that the work we do within the company is of the highest international class. The VADA (VRK1) program has generated great interest in the industry globally and we have chosen Day One as a partner since we are convinced that they are well suited to take the program forward. The collaboration with Day One gives us a great opportunity to realize our strategy to become a profitable growth company that extends and improves the lives of cancer patients.”, says Mathias Skalmstad, acting CEO and CFO of Sprint Bioscience.
In addition to the upfront payment and research funding, Sprint Bioscience is entitled to payments linked to predefined milestones during the program's continued development, its regulatory process, and commercialization of a potential drug. The total value of these payments is up to US$ 313 million.
The chosen partner, Day One Biopharmaceuticals Inc., is a clinical-stage American biopharmaceutical company, listed on the Nasdaq Global Select Market (Nasdaq: DAWN). With a clear focus on both solving the urgent needs of children with cancer and developing and commercializing targeted therapies for patients of all ages, Day One is judged to be a highly attractive partner for Sprint Bioscience's VADA (VRK1) program.
About VADA
The VADA program targets the protein vaccinia-related kinase 1 (VRK1). The program aims to develop drugs targeting a family of proteins involved in the cell's response to DNA damage (DNA damage response, DDR) and control of the cell cycle. Elevated levels of this protein family are found in a range of cancers and are correlated with poorer survival. VRK1 inhibitors have the potential to work in combination with other targeted treatments, radiotherapy or chemotherapy.