Tyme Technologies and Eagle Pharmaceuticals have entered into a collaboration deal worth up to $40m restricted to the US for co-promoting the former’s lead compound SM-88 in advanced cancers.
SM-88 is one of the cancer metabolism-based therapies (CMBTs) that are being developed by Tyme Technologies.
According to the company, CMBTs are investigational compounds that can potentially disrupt the protein synthesis of cancer cells and cause a breakdown of the cancer’s key defenses and eventually cell death.
The compound, which is an oral investigational modified proprietary tyrosine derivative, had shown complete or partial responses in clinical trials across 15 different cancers. Included in these are pancreatic, lung, breast, sarcoma, and prostate cancers, where the administration of the compound had resulted in minimal serious grade 3 or higher adverse events.
Eagle Pharmaceuticals CEO Scott Tarriff said: “Tyme’s approach is unique and transformational. Targeting cancer’s metabolism by disrupting protein synthesis has advantages over existing treatment approaches in terms of both efficacy and safety.
“This collaboration provides an excellent opportunity to continue expanding our presence in the oncology space, as well as to evaluate potential combination opportunities with SM-88 in our existing pipeline.”
As per the terms of agreement, Tyme Technologies is entitled to be paid up to $40m by Eagle Pharmaceuticals. Included in the amount is $20m in milestone payment based on the compound achieving primary endpoints in pivotal trial results or its approval of a cancer indication in the US.
Tyme Technologies will be responsible for the compound’s clinical development, regulatory approval, and manufacturing among other things. The company will be entitled to get the remaining 85% of net US revenues generated by the compound should it be approved.
Additionally, Tyme Technologies reserves the right to repurchase the co-promotion right held by Eagle Pharmaceuticals for $200m.
Tyme Technologies chairman and CEO Steve Hoffman said: “This alliance provides TYME with the commercial and capital resources to advance our leadership position in the field of cancer metabolism and the potential to expand our capabilities and accelerate clinical programs that will create value for all of our stakeholders, most importantly for the patients we serve.”