Stemline Therapeutics expands oncology pipeline
USA-based Stemline Therapeutics (Nasdaq: STML) today said that it has exclusively licensed worldwide rights to develop and commercialize a novel, oral, selective small molecule RET (rearranged during transfection) kinase inhibitor from the CRT Pioneer Fund LP.
The RET inhibitor was rationally designed by scientists at Cancer Research UK Manchester Institute at the University of Manchester, UK. The preclinical compound has been designated SL-1001 and is expected to enter the clinic in 2020.
Although no financial terms of the agreement were disclosed, Stemline’s shares were down as much as 2.15% at $11.37 shortly after markets opened this morning, though recovering for a gain of 1.7% to $11.75 shortly thereafter.
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