VentiRx Pharmaceuticals obtained exclusive, worldwide rights to Array BioPharma’s Toll-like receptor (TLR) program. The program contains a number of development candidates targeting TLRs to activate innate immunity. VentiRx expects to develop its first two candidates in oncology and allergy.
"These novel small molecule compounds from Array represent a significant opportunity for VentiRx and are ideally suited for our core competencies," says Michael Kamdar, executive vp and CBO at VentiRx. "This licensing agreement, coupled with our $28.9 million financing, puts us in a strong position to develop novel TLR-based therapeutics."
Array will receive an equity stake in VentiRx, an upfront payment, potential milestones, and royalties on product sales. Array also retains the option to acquire a 50% ownership position in all VentiRx clinical oncology products developed.