Xynomic In-Licenses Second Oncology Drug Candidate in $60 Million Deal

Xynomic Pharma, a US-China oncology startup, has acquired Greater China rights to a novel ACAT-1 inhibitor for cancer indications from Resarci Therapeutics of West Lafayette, Indiana. It will be tested as a treatment for prostate, pancreatic and other solid tumors. Xynomic will pay $1.2 million in upfront and milestone payments, plus royalties that could total $59 million. Two weeks ago, Xynomic announced it had acquired global rights to abexinostat, an HDAC inhibitor targeting hematological and solid tumor cancers. Xynomic also disclosed that it is close to in-licensing a potentially best-in-class BRAF inhibitor, targeting colorectal cancer and melanoma. More details....

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