Denovo inks option deal for DB102 in selected clinical indications

US biopharma firm Denovo Biopharma has entered into an exclusive option-to-license agreement with Rumpus Therapeutics for selected indications for DB102 (enzastaurin).

Under the terms of the deal, Rumpus gains the option to acquire an exclusive license to develop and commercialize DB102 worldwide for rare genetic pediatric onset or congenital disorders outside of oncology. The agreement includes an undisclosed upfront option payment, a fee to exercise the option, and pre-negotiated milestones and royalties upon exercise of the option.  Financial terms were not disclosed.

Denovo acquired enzastaurin, a late-stage oncology drug from pharma major Eli Lilly (NYSE: LLY) in 2014, gaining all rights to develop, manufacture and commercialize enzastaurin globally, including transfer of all intellectual property and other rights, data, and information.