Albany Molecular Research (AMRI) and Chai Therapeutics, an affiliate of Bessor Pharma, have signed a licensing deal to develop tubulin inhibitor compound, ALB 109564(a), for cancer treatment.
AMRI's ALB 109564(a) is a novel analog designed to prevent cell mitosis thereby killing cancer cells.
AMRI chairman and CEO Thomas D'Ambra said, "The recent formation of Chai Therapeutics to focus on the development of our compound is a strong statement by our partners of the potential benefit that this technology could ultimately deliver to cancer patients."
According to the deal, Chai that obtained exclusive license to the ALB 109564(a) intellectual property made an undisclosed license fee and reimbursement for certain costs related to the compound's intellectual property to AMRI.
Chai will carry out related research and development and is responsible for patent costs for the product.
AMRI is eligible for a share from further development and future ALB 109564(a)-related drug sales.
Bessor president and CEO Barry Berkowitz said, "Through our integrated network of drug development and clinical experts and the flexible structure afforded by Chai, we plan to advance the clinical program to further define the compound's potential."
