SOTIO a.s.: LDC and SOTIO License and Collaboration Agreement

PRAGUE, CZECH REPUBLIC--(Marketwired - Apr 11, 2017) -

Press Release

LDC and SOTIO Enter License and Collaboration Agreement for First-in-class Cancer Metabolism Program

Dortmund, Germany and Prague, Czech Republic, April 11, 2017 - The Lead Discovery Center GmbH (LDC), Max Planck Innovation GmbH (MI) and SOTIO a.s. have signed a collaboration and license agreement providing SOTIO with exclusive rights to an oncology program addressing a novel target in tumor metabolism. It was discovered at the Max Planck Institute for Biology of Ageing and jointly advanced by the LDC and Max Planck scientists into drug discovery.

Under the terms of the agreement, the LDC and its academic partners will perform further lead optimization and identify corresponding biomarkers for the program in collaboration with SOTIO. Upon nomination of a pre-clinical candidate, SOTIO will be responsible for the preclinical and clinical development as well as subsequent marketing and commercialization.

The LDC is eligible to receive research funding from SOTIO as well as upfront, development and sales milestone payments plus royalties on net sales of the product. Any revenues received by the LDC will be shared with the academic inventors, the Max Planck Institute for Biology of Ageing and the Max Planck Society. Financial details were not disclosed.

"We are excited to collaborate with SOTIO", said Dr Bert Klebl, CEO of the LDC. "The team at SOTIO combines strong, global development expertise with the dynamic spirit of a mid-sized innovation leader. This makes them an ideal partner for translating the results of our collaborative efforts with the Max Planck team into novel therapies. Together we have investigated and developed a completely new molecular mechanism for the potential future therapy of cancer patients. With SOTIO on board, we are perfectly positioned to progress this new drug candidate to patients as fast as possible."

Ladislav Bartonicek, CEO of SOTIO said, "Targeting cancer metabolism is a highly attractive and innovative approach for the treatment of cancer. Based on the world-class research at Max Planck, the team at LDC has generated very interesting lead candidates on this first-in-class cancer metabolism program with a promising safety and efficacy profile. We very much look forward to our collaboration with Max Planck and the LDC."

http://www.rns-pdf.londonstockexchange.com/rns/2113C_-2017-4-11.pdf