4SC receives milestone payment from Link Health
Planegg-Martinsried, Germany, 31 October 2018 – 4SC AG (4SC, FSE Prime Standard: VSC) today announced, that it received a single digit million Euro milestone payment from its partner Guangzhou LingSheng Pharma Tech Co., Ltd (Link Health) in accordance with the licensing and development agreement for the cancer therapeutic candidate 4SC-205.
Under the 2016 agreement, Link Health received from 4SC the exclusive licensing rights for the development, regulatory submission and marketing of 4SC-205 in China, Hong Kong, Taiwan and Macao and is responsible for performing and financing the clinical development of 4SC-205.
Jason Loveridge, Ph.D., CEO of 4SC, commented: “We are very pleased that our Chinese partner has successfully advanced 4SC-205 to the next stage of development and laid out an extensive clinical development program to support approvals in Asia. 4SC remains focused on advancing our wholly-owned oncology therapeutic candidates resminostat and domatinostat, but nonetheless our strategy to monetize and advance non-core assets through partnerships continues to progress well.”
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About 4SC-205
4SC-205 is an anti-cancer compound that inhibits the kinesin spindle protein Eg5 (KIF11) which plays a key role in cancer cell division and growth. Cell division inhibitors are effective against cancers but have serious side effects on the peripheral nervous system. This type of adverse reactions does not play a significant role with 4SC-205 however.
To the best of 4SC’s knowledge, 4SC-205 is the only orally available Eg5 inhibitor currently in clinical development. 4SC-205 is administered daily in low oral doses to ensure the substance is steadily available in the body and can have a continuous effect. The effectiveness of 4SC-205 against cancer cells has been confirmed in various preclinical studies. In the clinical Phase I AEGIS study, the substance was shown to be tolerated; initial indications of efficacy have crystallized in this study as well.
The molecule has been licensed to Link Health for development in China, Hong Kong, Taiwan and Macao. 4SC can use Link Health’s findings to pursue the further development of 4SC-205 in other parts of the world as well, potentially also through additional independent partnerships.
About 4SC
4SC AG is a clinical-stage biopharmaceutical company developing small-molecule drugs that can target key indications in cancer with high unmet medical needs. 4SC’s pipeline is protected by a comprehensive portfolio of patents and currently comprises three key drug candidates in various stages of preclinical and clinical development: resminostat, domatinostat (4SC-202) and 4SC-208.
4SC aims to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies and/or the eventual marketing and sales of approved drugs in select territories by 4SC itself.
4SC is headquartered in Planegg-Martinsried near Munich, Germany. The Company had 46 employees as of 30 September 2018 and is listed on the Prime Standard of the Frankfurt Stock Exchange (FSE Prime Standard: VSC; ISIN: DE000A14KL72).
Forward-looking information
Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC’s control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.