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Aptose Biosciences grants OHM Oncology license to develop anti-cancer therapy

Aptose Biosciences Inc. is giving OHM Oncology rights to develop, manufacture and commercialize Aptose's APL-581, as well as related molecules from the dual bromodomain and extra-terminal domain motif, or BET, protein and kinase inhibitor program.

BET and kinase inhibitors are a class of drugs used in the development of cancer treatment.

Under the exclusive global license agreement, OHM will pay the Canadian biotechnology company a nominal upfront cash amount and up to $125 million of additional development, regulatory and sales milestone payments, as well as future sales royalties.

Additionally, Aptose will retain reacquisition rights to certain molecules, while OHM will have the rights to develop and sublicense all other molecules.

The licensing agreement formalizes the partnership between Aptose and OHM, which originated in 2015 from the work between OHM and its research and development partner Laxai Life Sciences Inc. on a discovery stage program, said William Rice, chairman, president and CEO of Aptose.