Arno Therapeutics, Inc. Terminates Licensing Agreement with Ohio State University
December 26, 2017
Share
Arno Therapeutics, Inc. has terminated its licensing agreement with Ohio State University (OSU), an educational university, for AR-12 and AR-42 product candidates. Earlier, on May 15, 2015, Arno Therapeutics amended its licensing agreement with OSU, for OSU-03012 (AR-12) and OSU-HDAC42 (AR- 42). Earlier, on January 28, 2008, Arno Therapeutics entered into licensing agreement with Ohio State University (OSU). Under the agreement, Arno Therapeutics received exclusive worldwide rights to commercially develop OSU-03012, OSU-HDAC42 and other small molecules used in the treatment of cancer. As of October 12, 2016, Arno has paid one-time cash payments to OSU of USD0.45 million in 2008 and reimbursed it for past patent expenses. In addition, Arno will pay performance-based cash payments upon successful completion of clinical and regulatory milestones relating to AR-12 and AR-42 in the US, Europe and Japan and an aggregate potential milestone payments of up to USD 6.1 million for AR-12, of which USD 5 million is due only after marketing approval in the US, Europe and Japan, and USD 5.1 million for AR-42, of which USD 4 million is due only after marketing approval in the US, Europe and Japan, for AR-12 and AR-42. In September 2009, Arno Therapeutics has paid a milestone payment upon the commencement of the phase I clinical study of AR-12 along with royalties on net sales of products in the low-single digits. OSU-03012 is used in the treatment of apoptosis and angiogenesis where as OSU-HDAC42 is used in solid and tumors.
Arno Therapeutics, Inc. is an early-stage company focused on developing products for the treatment of cancer and other life threatening diseases. The Company's product development pipeline includes Onapristone, AR-42, and AR-12 and analogs. Onapristone is indicated for endometrial, prostate and breast cancer indications. AR-42 is provided for hematological malignancies and solid tumors indications. AR-12 is offered for solid tumors and hematological malignancies, and various anti-microbial targets. Onapristone is a type 1 anti-progestin hormone blocker that has considerable anti-tumor activity in patients with breast cancer. The Company is engaged in developing and commercializing AR-42, which is an oral cancer therapy in early clinical development. AR-42 is a spectrum deacetylase inhibitor of both histone and non-histone proteins, which has potency and activity in solid tumors and hematological malignancies. AR-12 is an orally available cancer treatment.