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Millennium signs licensing pact with Sunesis Pharma

Millennium: The Takeda Oncology Company and Sunesis Pharmaceuticals have signed a licensing pact to develop Sunesis' oral, selective pan-Raf kinase inhibitor and one additional unrevealed kinase inhibitor program in oncology.

The two programs were part of Sunesis multi-kinase inhibitor collaboration with Biogen Idec, which was signed in 2004. Further in 2010, Biogen Idec has out licensed all its oncology assets to Millennium.

Under Sunesis pact, Millennium will continue to develop these programs.

As per the terms of the agreement, Millennium has paid $4m upfront payment to Sunesis and is also responsible to pay $60m in pre-commercial milestone program payments and royalties on sales of future collaboration products.

In addition, Sunesis has retained its future co-development and co-promotion rights.

Sunesis CEO Daniel Swisher said they look forward to Millennium’s transition of the pan-Raf kinase investigational agent into clinical studies, while they continue to focus the resources and attention on their ongoing Phase 3 VALOR trial for vosaroxin in AML.