Transgene out-licenses skin cancer candidate TG1042 to Ascend Pharma

French biotech firm Transgene SA (Euronext Paris: TNG) has granted Ascend Biopharmaceuticals, an emerging privately-held Australian immunotherapy company, a license to develop and commercialize TG1042 in basal cell carcinoma, as well as in two other cancer indications. Transgene retains rights to other potential indications. Terms and conditions of the license to Ascend were not disclosed.

TG1042 (now ASN-002 at Ascend) is an adenovirus-based immunotherapy that is expected to enter a Phase I/II clinical trial in nodular basal cell carcinoma in Australia later in 2013. Nodular basal cell carcinoma is a highly prevalent skin cancer that affects around 2 million people worldwide with a significantly higher than average prevalence in Australia. Prevalence is notably associated with prolonged and/or repeated skin exposure to the sun. Current treatment for nodular basal cell carcinoma is surgery and there is a need for an effective alternative to surgery in hard to treat BCC patients for whom the disease is life threatening, says Transgene.

TG1042 was previously licensed to Virax, another Australia-based immunotherapy company. This license agreement was terminated in 2012, when Virax discontinued its activities. Rights were then returned to Transgene.