Ono Pharma in-licenses cancer drug devimistat

Japanese drugmaker Ono Pharmaceutical (TYO: 452) has entered into an exclusive license agreement with USA-based Rafael Pharmaceuticals for the development and commercialization of CPI-613 (devimistat), its first-in-class clinical lead compound, which targets cancer metabolism enzymes, as well as its other related compounds.

Under the terms of the agreement, Ono will have exclusive rights to develop and commercialize devimistat and other related compounds for all indications in Japan, South Korea, Taiwan and ASEAN countries. However, the news sent Ono’s shares 1.93% lower to 1,859 yen. Rafael retains all exclusive rights to develop and commercialize the compounds outside the above countries.

Devimistat has been granted orphan drug designation for the treatment of patients with pancreatic cancer, acute myeloid leukemia, peripheral T-cell lymphoma, Burkitt lymphoma and myelodysplastic syndromes by the US Food and Drug Administration, and for patients with pancreatic cancer and AML by the European Medicines Agency.