G1 Therapeutics nabs $310 million licensing deal for lerociclib

North Carolina, USA-based oncology specialist G1 Therapeutics (Nasdaq: GTHX) has signed a license agreement for lerociclib to EQRx, a biopharmaceutical company focused on making innovative medicines at dramatically lower prices for the benefit of people and society.

Under the terms of the agreement, EQRx gains exclusive rights for lerociclib in the USA, Europe, Japan and all other global markets, excluding the Asia-Pacific region (except Japan). G1 will receive an upfront cash payment of $20 million and will be eligible for development and commercial milestone payments of up to $290 million, plus tiered royalties ranging from mid-single digits to mid-teens based on annual net sales of lerociclib.

“We are excited to partner with EQRx to further development of lerociclib, a differentiated oral CDK4/6 inhibitor designed to enable more effective combination treatment strategies,” said Dr Mark Velleca, chief executive of G1, adding: “This is the third strategic collaboration we have executed this year. Collectively, these partnerships have advanced our goal to provide global access to our promising oncology therapies and extend our financial runway so that we can continue our efforts to bring novel treatments to patients with cancer.”