RESEARCH TRIANGLE PARK, N.C. and SAN FRANCISCO, May 22, 2024 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, and Deimos Biosciences, a portfolio company of Jupiter Bioventures, announced a global licensing agreement (excluding the Asia-Pacific region) for lerociclib for radioprotective uses. Lerociclib is a potent and selective inhibitor of cyclin-dependent kinases 4 and 6 (CDK4/6). Such inhibitors can increase the survival of animals exposed to radiation.
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"Deimos Biosciences is an example of the diverse assets in the Jupiter portfolio with tremendous potential benefit,” said Nathaniel David, co-founder and Managing Director of Jupiter Bioventures. “We are thrilled to see this program advance and to be a part of developing a solution in an area of high unmet need."
Deimos Biosciences has the exclusive rights to develop, manufacture, and commercialize lerociclib for certain radioprotective uses in the US, Europe, Japan, and all other global markets, excluding the Asia-Pacific region, which G1 has already licensed to Genor Biopharma. In addition, Lerociclib was recently licensed globally (excluding the Asia-Pacific region) to Pepper Bio for all indications except for certain radioprotectant uses.
Under the terms of the agreement, G1 is expected to receive shares of Deimos Biosciences’ common stock representing 10% of Deimos Biosciences’ outstanding equity capitalization on a fully diluted basis, in addition to a 20% royalty on aggregate annual net sales of lerociclib.
"We are excited to partner with Deimos Biosciences on the development of lerociclib for radioprotective measures," said Jack Bailey, Chief Executive Officer of G1 Therapeutics. "This is an area of critical need where lerociclib may hold meaningful promise based on our previous work when G1 was being founded and we look forward to advancing its development for this important purpose."
About Lerociclib
Lerociclib is a differentiated oral CDK4/6 inhibitor based on its unique attributes, including its increased selectivity and potency for CDK 4 and CDK 6 and shorter half-life. Preliminary clinical data in hormone receptor-positive, HER2-negative (HR+, HER2-) breast cancer have demonstrated proof-of-concept of the differentiated clinical profile of continuously dosed lerociclib versus currently marketed CDK4/6 inhibitors, with improved tolerability and less neutropenia while maintaining robust clinical activity. Lerociclib has been licensed to Genor Biopharma in the Asia-Pacific region (excluding Japan) and is under National Medical Products Administration review in China for 1L and 2L HR+/HER2- breast cancer. Lerociclib was recently licensed globally (excluding the Asia-Pacific region) to Pepper Bio for all indications except for certain radioprotectant uses.
About Jupiter Bioventures
Jupiter Bioventures builds extraordinary biotech companies from the ground up. With deep experience and capital access, Jupiter identifies transformational ideas from biotech innovators around the world and creates companies with audacious goals. For more information on Jupiter Bioventures and its portfolio, please visit www.jupiter.bio.
About G1 Therapeutics
G1 Therapeutics, Inc. is a commercial-stage oncology biopharmaceutical company whose mission is to develop and deliver next-generation therapies that improve the lives of those affected by cancer, including the Company’s first commercial product, COSELA® (trilaciclib). The Company is also evaluating therapies in combination with cytotoxic therapies and/or immunotherapy in areas of high unmet need including triple-negative breast cancer and extensive stage small cell lung cancer. G1’s goal is to provide innovative therapeutic advances for people living with cancer. G1 is based in Research Triangle Park, N.C. For additional information, please visit http://www.g1therapeutics.com and follow us on X (formerly known as Twitter) @G1Therapeutics and LinkedIn.
G1 Therapeutics® and the G1 Therapeutics logo and COSELA® and the COSELA logo are trademarks of G1 Therapeutics, Inc.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," “could”, “believe,” “goal”, “projections,” "estimate," "intend," “indicate,” “potential,” “promising,” “opportunity,” “suggest,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the anticipated benefits of the licensing agreement between Pepper Bio and G1 Therapeutics, the potential of lerociclib as a treatment for certain radioprotective uses, and the anticipated development and commercialization plans for lerociclib, and are based on the Company’s expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause the company’s actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in the company’s filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections contained therein, and include, but are not limited to, the Company’s dependence on the commercial success of COSELA (trilaciclib); the development and commercialization of new drug products which is highly competitive; the Company’s ability to complete clinical trials for, obtain approvals for, and commercialize any of its product candidates; the Company’s initial success in ongoing clinical trials, which may not be indicative of results obtained when these trials are completed or in later stage trials; the inherent uncertainties associated with developing new products or technologies and operating as a commercial-stage company; and chemotherapy shortages and market conditions. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. Except as required by law, the company assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
Contacts:
Jupiter Bioventures Contact:
David Buttaro
Communications
dbuttaro@jupiter.bio
G1 Therapeutics Contact
Will Roberts
Communications Officer
Vice President, Investor Relations and Corporate Communications
(919) 907-1944
wroberts@g1therapeutics.com
