Chemokine Modifies Deal with The University of British Columbia
Changes to milestone-based fees enhance company’s proprietary position.!--h2>
Chemokine Therapeutics amended certain terms of its license agreement with The University of British Columbia (UBC) linked to milestone payment obligations. Signed in September, 1999, the deal required Chemokine to pay fees on achievement of milestone on certain technologies related to its two synthetic versions of stromal cell-derived factor-1 (SDF-1), CTCE-9908 or CTCE-0214.
The modification “has allowed us to strengthen our proprietary position under the agreement," points out Richard Piazza, chairman and CEO.
The UBC license grants the company exclusive, worldwide rights to research, develop, and commercialize some technologies, which remain the property of UBC. These tools relate to therapeutics involving SDF-1, peptide antagonists, and agonists that are currently applicable to Chemokine's drug candidates.
CTCE-9908 has been designed to inhibit the growth and spread of the most common forms of cancer. The candidate recently completed a Phase I trial and showed no toxicity, according to Chemokine. CTCE-0214 is in Phase I evaluation of its role to aid immune system recovery. The company reports that preclinical studies found that it mobilizes neutrophils, platelets, and stem cells into the blood. These studies suggest that CTCE-0214 has the potential to restore a cancer patients' immune system and blood cells between cycles of chemotherapy.