Exclusive option agreement on ORX-301 for treating NPC and FSGS has the potential to reach over $125 million in payments
Oraxion Therapeutics a spin-off from Aten Porus Lifesciences has entered into an option agreement with a US-based biopharmaceutical company. The agreement provides the biopharma partner the exclusive option to license its lead asset ORX-301 for the treatment of Niemann-Pick Type C disorder (NPC) and Focal Segmental Glomerulosclerosis (FSGS). The total aggregate payments under the agreement have the potential to reach upwards of $125 million as well as typical royalties and associated sales milestone payments.
“We are excited to be working with a partner that shares our vision to develop ORX-301 for NPC and FSGS. Our partner has expertise in rare diseases, with deep clinical development, regulatory experience and related capabilities. We look forward to seeing these promising programmes yield important drugs that will benefit underserved patients around the globe,” said Arun B Papaiah, Founder & CEO, Oraxion Therapeutics.
“We would also like to acknowledge the support from the Biotechnology Industry Research Association Council (BIRAC), an initiative of the Department of Biotechnology, Govt. of India, for initial grant support for our work,” he added.
“We have confirmed the therapeutic efficacy of our lead compound, ORX-301, in the relevant preclinical models of these diseases and now plan to transfer the asset to our partner for clinical development,” said Aditya Kulkarni, Founder & Chief Scientific Officer, Oraxion Therapeutics.
“We’re continually looking for opportunities to advance critical therapies to treat underserved disease targets such as NPC and FSGS, through novel technology, like ORX-301,” said Tom Johnston, Chief Business Officer, Oraxion Therapeutics.
“This deal is a validation of our science and our platform and will allow us to expand our pipeline of treatments with the potential to improve other health outcomes in areas of unmet medical need,” said Srinivasan Namala, Founder and Director, Oraxion Therapeutics.