SYDNEY, July 10, 2023 /PRNewswire/ -- Race Oncology Limited ("Race") is pleased to announce execution of an exclusive licence agreement ("Agreement") to access U.S. cancer research and treatment organisation City of Hope's intellectual property ("IP) which highlights bisantrene as a potent inhibitor of the human fat mass and obesity-associated protein, or FTO. City of Hope, one of the largest cancer research and treatment centres in the United States and a leading research centre for diabetes and other life-threatening illnesses, encourages the use of its inventions, discoveries and intellectual property for the benefit of the public.
These rights granted under the Agreement include the exclusive license of IP potentially arising from a patent application (PCT Application No. PCT/US2020/043294) ("Patent Application") as filed by City of Hope and know-how relating to data included in the Patent Application ("Know-How"). The Agreement ensures Race's exclusive access to that IP, which the Company believes will construct a transparent path for collaborative research and the downstream commercialisation of FTO inhibitory applications.
A summary of the material terms of the Agreement can be found on page 3 of the ASX Announcement here.
CEO and Managing Director, Damian Clarke-Bruce commented: "In 2020, City of Hope published research highlighting bisantrene as a potent inhibitor of FTO. This exclusive worldwide agreement secures access for Race to important IP associated with that work and opens exciting opportunities for us to collaborate closely with Professor Jianjun Chen and his research group.
With the agreement in place, collaborative discussions regarding Race-sponsored research are now easier to facilitate. Moreover, this agreement secures a clear path for Race's FTO research agenda. We are excited about further validating this targeted application for bisantrene through preclinical and clinical studies and anticipate that FTO inhibition may offer a high-impact, personalised medicine solution for cancer patients."
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