Kazia Therapeutics (NASDAQ:KZIA) announced it will receive $1 million for the sale of all intellectual property (IP) and trademark rights of Cantrixil to Vivesto (Nasdaq Stockholm:VIVE).
Vivesto licensed the exclusive global development and commercialization rights for Cantrixil in March 2021, after Kazia decided not to pursue development of the drug in ovarian cancer—as originally anticipated under the license. Vivesto is exploring Cantrixil in preclinical studies for the treatment of hematological cancers.
John Friend, MD, CEO of Kazia, commented, “We are pleased to enter into this agreement with VIvesto, which provides a source of non-dilutive funding that will help advance our proprietary, clinical-stage pipeline.”
