vTV Therapeutics Inc. (NASDAQ: VTVT) jumped 6.78% after announcing the signing of a licensing agreement with Cantex Pharmaceuticals. According to the agreement, Cantex has received exclusive global rights for the development and commercialization of vTV’s antagonist of RAGE, azeliragon.
Cantex to develop and commercialize azeliragon globally
Cantex CEO and President Stephen Marcus said RAGE had been linked to a number of significant cancer complications that lead to higher mortality and lower quality of life. Marcus said that the Cantex team has extensive experience and a proven track record of successfully transitioning well-known medications into novel pharmaceuticals with significant therapeutic and commercial potential. As a result, Cantex is the ideal company for developing azeliragon. A phase 2-ready oral medicine delivered once daily. It has that has shown a solid safety profile in numerous Alzheimer’s disease trials. Marcus said that they plan to act quickly to prepare for clinical trials evaluating the potential of azeliragon to treat a variety of cancer-related problems.
vTV Chief Executive Officer and President Steve Holcombe said that RAGE is a promising target for treating a wide range of disorders. In addition, Holcombe said that they believe Cantex is the perfect partner to advance the development of azeliragon in proprietary therapeutic indications, which vTv had researched in Alzheimer’s disease. Notably, Cantex has extensive clinical development knowledge and a track record of successfully repurposing therapeutic candidates for new applications.
Companies to share azeliragon revenue in a tiered system
Cantex will be responsible for the development and commercialization of azeliragon under the terms of the deal. The companies will split downstream revenues in a tiered system.
Azeliragon, also called TTP488, is a small molecule antagonist of the receptor for advanced glycation endproducts that can be taken orally. The vTv developed the drug into phase 3 through its drug discovery platform, TTP Translational Technology®.