Nodus Oncology announces acquisition of Basilea Pharmaceutica’s PARG inhibitor programme
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Acquisition enables Nodus Oncology to continue building its portfolio of first and best-in-class molecules inhibiting novel DNA damage response targets (DDR)
Edinburgh, Scotland, 8 September 2022 – Nodus Oncology (“Nodus” or “the Company”), a novel biotech company focused on developing first and best-in-class molecules inhibiting novel DNA damage response (DDR) targets, is pleased to announce the completion of an Asset Purchase Agreement (APA) for Basilea Pharmaceutica’s (“Basilea”, SIX: BSLN) novel poly(ADP-ribose) glycohydrolase (PARG) inhibitor discovery programme.
Nodus secures worldwide development and commercialization rights to Basilea’s PARG inhibitor (PARGi) programme – currently at the discovery stage - which has the potential to be a best-in-class treatment for molecularly defined patient sub-groups. PARG is a key enzyme in the repair of DNA damage and essential for tumour cells to grow. The development activities will be transferred from Basilea to Nodus Oncology’s drug discovery partner, the Lead Discovery Center (LDC) to accelerate clinical candidate selection.
Under the terms of the agreement, Basilea receives an upfront and near-term research milestone payment of CHF 1.0 million and is eligible for further payments, upon the achievement of predefined development, regulatory and sales milestones based on entry to the clinic and regulatory approval in the U.S. and Europe.
Ian Waddell, Chief Executive Officer of Nodus Oncology, said: “Nodus’ acquisition of Basilea’s PARG inhibitor program demonstrates our ongoing commitment to developing, and bringing to patients, drugs addressing next generation DDR targets. We are excited to expand our portfolio and we look forward to working with LDC to advance this program.”
Adesh Kaul, Chief Financial Officer of Basilea, added: “We are happy to have found a specialized oncology partner with strong expertise in the DNA damage repair space so that the work on this promising programme can swiftly continue towards the next important milestones.”
For more information about Nodus Oncology, please contact:
Consilium Strategic Communications
Mary-Jane Elliott, Lindsey Neville, Davide Salvi
nodusoncology@consilium-comms.com
About Nodus Oncology
Nodus Oncology is a biotech company developing first and best-in-class molecules focused on the DNA damage response (DDR) in patient sub-groups where molecular vulnerabilities exist. Founded by Cumulus Oncology, which contributes capital and oncology discovery and development expertise to the creation of new biotech companies, Nodus has received seed investment from both Cumulus Oncology and additional investors. www.nodusoncology.com