Teva Declines Right To License Rexahn Cancer Drug

Teva Pharmaceutical Industries has decided not to exercise its option to license RX-3117, a DNA and RNA synthesis inhibitor for the treatment of solid cancer tumors, from Rexahn Pharmaceuticals. As a result, the Research and Exclusive License Option (RELO) agreement for RX-3117 between Rexahn and Teva has been terminated. Rexahn will retain all the global development and commercialization rights to RX-3117.

Rexahn originally signed an exclusive collaboration and option for license agreement with Teva (referred to as an anonymous "Partner Co." in the press release) for the development of RX-3117 back in June of 2009. In July of this year, Teva submitted an IND application to the FDA for RX-3117. Under the RELO agreement, Teva had 45 days from the filing of the IND to exercise their option to license RX-3117 exclusively.

"RX-3117 appears to have potential in various indications, but does not align with Teva's new Oncology strategy," said a representative from Teva.

Rexahn says they will continue to advance the clinical development of RX-3117 and expects to finalize the timeline for initiating a Phase I clinical study in cancer patients within the next three months.

"RX-3117 has already demonstrated safety and oral bioavailability in cancer patients, and has the potential to treat a wide variety of solid cancer tumors," said Peter D. Suzdak, Ph.D., Rexahn's CEO, in a statement. "We will explore potential partnering opportunities with oncology-focused pharmaceutical companies for this compound, as we continue to make progress in the clinical development of RX-3117."

This article was reprinted from Genetic Engineering & Biotechnology News (GEN) with permission from Mary Ann Liebert, Inc., publishers. Genetic Engineering & Biotechnology News (GEN) has retained its position as the number one biotech publisher around the globe since its launch in 1981. GEN publishes a print edition 21 times a year and has additional exclusive editorial content online, like news and analysis as well as blogs, podcasts, webinars, polls, videos, and application notes. GEN's unique news and technology focus includes the entire bioproduct life cycle from early-stage R&D, to applied research including omics, biomarkers, as well as diagnostics, to bioprocessing and commercialization.