BTG could receive up to $307 million in success-based fees.

BTG licensed its preclinical cancer drug candidate to Onyx Pharmaceuticals for an initial $13 million. Onyx also agreed to pay $72 million in development-related milestones, $235 million in approval and commercial milestones, as well as a royalty.

BTG progressed this compound, BGC 945, into late-stage preclinical development in collaboration with The Institute of Cancer Research (ICR), which discovered the compound. The company will share approximately 10% of the upfront and milestone revenues it receives relating to BGC 945 with ICR plus a pass-through royalty.

“This agreement is in line with our strategy to realize value from our current pipeline as we focus new investments on acquiring and developing later-stage products,” states Louise Makin, BTG’s CEO.

BGC 945 inhibits thymidylate synthase (TS), an enzyme involved in cell growth and division. Unlike traditional TS inhibitors, BGC 945 enters tumor cells via the alpha-folate receptor, BTG reports. This receptor is overexpressed in certain tumor types including ovarian, lung, endometrial, and mesothelioma cells but has a restricted expression profile in normal tissues, the firm adds.

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