Kazia Therapeutics Ltd (NASDAQ: KZIA) has entered an exclusive worldwide licensing agreement with Oasmia Pharmaceutical AB (OTC:OASMY) for Cantrixil under development the treatment of ovarian cancer.

The agreement will see Sweden-based Oasmia assume exclusive worldwide rights to develop and commercialize Cantrixil for all indications, with an initial focus on ovarian cancer.
Oasmia's lead product, Apealea (paclitaxel micellar), is approved in Europe for adult patients with the first relapse of platinum-sensitive epithelial ovarian cancer, primary peritoneal cancer, and fallopian tube cancer, and is in late-stage development in the U.S.
Oasmia expects to commence a Phase 2 study of Cantrixil in ovarian cancer in 2022.
Under the terms of the agreement, Oasmia will make an upfront payment of $4 million to Kazia, with contingent milestone payments of up to $42 million and double-digit royalties on commercial sales.
Cantrixil is a proprietary formulation of the potent and selective third-generation benzopyran, TRX-E-002-1, that targets the entire spectrum of cancer cells, including chemotherapy-resistant tumor-initiating cells (cancer stem cells) thought to be responsible for disease relapse.
In December last year, Kazia announced a Phase 1 study's top-line results and determined the maximum tolerated dose of Cantrixil to be 5 mg/kg.
Price Action: KZIA closed 3.9% lower at 9.9 on Friday.

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