Ignyta, Inc. (OTCBB:IGASD), an oncology precision medicine biotechnology company, announced its entry into a license agreement with Nerviano Medical Sciences (Nerviano) that will grant Ignyta exclusive global development and marketing rights to RXDX-101, a tyrosine kinase inhibitor directed to the TrkA, ROS1 and ALK proteins, which is in a Phase I/II clinical study in molecularly defined patient populations for the treatment of solid tumors; and RXDX-102, a tyrosine kinase inhibitor directed to the Trk family tyrosine kinase receptors, TrkA, TrkB and TrkC, which is currently in preclinical development for the treatment of multiple cancers. Nerviano is a former Pfizer/Pharmacia oncology discovery site in Italy, and one of the leading kinase discovery research organizations in the world.
Under the terms of the license agreement, which will become effective upon Ignyta’s completion of an equity or debt financing resulting in proceeds of at least $20 million, Ignyta will assume sole responsibility for global development and commercialization of RXDX-101 and RXDX-102. Nerviano will be entitled to receive certain upfront and milestone payments, as well as tiered royalty payments on future net sales of RXDX-101 or RXDX-102.
More info on Ignyta website at the link https://ignyta.com/investors/press-release-article/814192/