Apr 26, 2024 (24/7 Market News via COMTEX) --
DENVER, Colo., Apr 26, 2024 (247marketnews.com)- Biodexa Pharmaceuticals PLC, (Nasdaq:BDRX) entered into a definitive agreement with Rapamycin Holdings Inc. for eRapa rights under an exclusive, worldwide license to develop, manufacture, commercialize and otherwise advance the clinical potential of eRapa.
eRapa is a phase 3 ready asset for the treatment of Familial Adenomatous Polyposis (FAP), which affects an estimated 100,000 in U.S. and Europe, and the worldwide rights come with $17 million in non-dilutive grant funding for Pivotal Phase 3 trial in FAP.
Biodexa's CEO and CFO, Stephen Stamp, commented, "Acquiring a Ph.ase 3 ready asset, particularly one supported by $17 million of non-dilutive grant funding, significantly advances Biodexa's oncology pipeline and adds numerous valuation catalysts for our stakeholders. We are delighted to be working with the Emtora team which has excelled in bringing eRapa close to the end of Phase 2 in Non-muscle Invasive Bladder Cancer and to the beginning of a Phase 3 trial in FAP, a devastating disease for which there is currently no approved pharmacological agent for altering its progression. Left untreated, it almost always leads to incredibly invasive surgery and a major deterioration in the quality of life."
Stephen Dufilho, Executive Chairman of Emtora stated, "The transaction with Biodexa is the culmination of a decade-long effort to advance our potentially game-changing eRapa to a registrational Phase 3 trial – and ultimately to patients in need. Our story began in San Antonio - where eRapa was originally invented at the University of Texas and funded in part by grants from the Cancer Prevention Research Institute of Texas. We thank the scientists, clinicians, investors and biotech executives that supported our efforts to reach this important milestone. We look forward to working with the Biodexa team as we embark upon this next chapter."
The post Biodexa Signs Exclusive License Agreement for Phase 3 Ready eRapa appeared first on 24/7 MarketNews.
COMTEX_451457556/2900/2024-04-26T09:24:45
