SAN DIEGO, March 6, 2013 /PRNewswire/ -- Cylene Pharmaceuticals, Inc. announced today that it has entered into an exclusive, worldwide Option and License Agreement that will allow TetraGene LLC to advance the development of Quarfloxin and Cylene's associated anticancer quadruplex-targeting technologies. Cylene will receive an upfront fee, as well as potential milestone payments and royalties on product sales for the exclusive license.
TetraGene is developing small molecule drugs aimed at highly validated cancer-causing genes, by directly targeting G-quadruplex structures in genomic DNA. TetraGene has the option to acquire worldwide rights to the technologies licensed from Cylene, which include the Phase II compound Quarfloxin and several registered patents. Quarfloxin has been demonstrated to be safe and well-tolerated in Phase I clinical trials.
"This agreement is a clear win for both organizations," stated William G. Rice, PhD, President and CEO of Cylene Pharmaceuticals. "TetraGene is well placed to advance Quarfloxin through the clinic and to capture exclusive worldwide rights to the quadruplex-targeting technologies. Cylene will receive standard industry payments as the quadruplex program progresses and we will continue to focus our in-house development efforts on CX-5461, Cylene's clinical stage Pol I inhibitor that activates the p53 tumor suppressor selectively in cancer cells and not normal cells."
"The agreement between TetraGene and Cylene immediately provides us with access to a clinical stage drug," commented Laurence H. Hurley, PhD, CSO of TetraGene and a pioneer of G-quadruplex targeted therapeutics. "The validity of drug targeting G-quadruplex DNA and modulating expression of cancer genes has dramatically increased in the last few years and our team is uniquely positioned to take advantage of these new insights."
About Cylene Pharmaceuticals
Cylene Pharmaceuticals is a clinical-stage private company developing small molecule drugs against newly validated targets in essential cancer pathways. The Company's Pol I program provides a non-genotoxic mechanism for activating p53 to kill cancer cells. Cylene's leadership in exploiting CK2 pathways enables rational drug combinations for improved treatment outcomes against many cancer indications. Cylene's unique approaches deliver innovative cancer agents that can enable pharmaceutical companies to expand their portfolios and extend the efficacy, lifecycle and reach of current cancer therapeutics. For more information on Cylene and its programs, please visit www.cylenepharma.com.
TetraGene leverages a novel platform technology to develop cancer drugs that target well-validated cancer-causing oncogenes previously considered as undruggable by the pharmaceutical industry. This technology exploits a gene regulatory mechanism where the expression of a gene is controlled by folded DNA structures (called G-quadruplex DNA). By targeting gene transcription, TetraGene has carved out a niche where its technology platform can be directly applied to inhibit these undruggable cancer targets. For more information about TetraGene please visit www.tetragene.com.
SOURCE Cylene Pharmaceuticals, Inc.