ADragan LadRx ( OTCQB:LADX ), a drug developer focused on chemotherapeutics, and California-based biotech, ImmunityBio ( NASDAQ: IBRX ) have reached a mutual agreement to terminate a licensing deal for aldoxorubicin, an investigational therapy targeted at soft tissue sarcoma and other cancers. XOMA Corporation ( NASDAQ: XOMA ), which bought royalty and milestone rights related to aldoxorubicin following a multimillion-dollar deal in 2023, has also given the go-ahead to the decision, the companies said in a statement late Monday. As the deal ends, LadRx ( OTCQB:LADX ) regains control of aldoxorubicin, which has already demonstrated its potential in a Phase 2 trial against a rare type of cancer called advanced soft tissue sarcoma.
Concurrently, XOMA ( XOMA ) and ImmunityBio ( IBRX ) unit NantCell have revised their 2023 royalty purchase agreement related to aldoxorubicin. The companies said that per the revised deal, XOMA would receive a low-single-digit royalty and a mid-single-digit percentage of any economics generated from a potential out-licensing agreement related to the drug. “Over the coming months, we will be reviewing the pre-clinical and clinical data for aldoxorubicin and plotting a path forward for its continued clinical development,” LadRx ( OTCQB:LADX ) CEO Stephen Snowdy remarked.
More on ImmunityBio, LadRx, etc. ImmunityBio: Anktiva Approval Opens Up A World Of Possibilities, Risks And Potential Gains ImmunityBio: FDA Approval Gets Ball Rolling Towards Next.
