SUDA LTD Signs Term Sheet to Acquire Anti-Cancer Agent

SUDA LTD (ASX:SUD), a leader in oro-mucosal drug delivery, has announce that is has signed a binding Memorandum of Understanding (MoU) with UK-based Aluztra Bio Ltd to acquire the global intellectual property relating to a novel anti-cancer agent.

KEY TAKEAWAYS:

• Under the terms of the MoU, SUDA has up to six months to complete its due diligence on Anagrelide before entering a definitive agreement.
  • Aluztra and its partner, Cancer Research UK, will be entitled to a low single-digit percentage royalty on direct net sales or a share of income generated by SUDA from commercialisation of an oro-mucosal spray of Anagrelide.
• Anagrelide is currently used as an anti-thrombotic agent to reduce elevated levels of platelets.
  • Scientists have identified that platelets also provide essential growth factors that nourish cancer cells and enable them to take hold and develop into tumours. Hence, those patients with the highest platelet numbers are least likely to survive.
• Anagrelide has the potential to be developed as an effective anti-cancer agent, but is fundamentally limited in its current formulation by cardio-stimulatory side-effects.
• An oromucosal spray formulation of Anagrelide could minimise these side-effects by avoiding first-pass metabolism of the active drug in the liver.
• The global market for cancer drugs has grown to more than $100 billion in annual sales.

Mr Stephen Carter, SUDA’s CEO and Managing Director, commented: “Anagrelide is an interesting opportunity for SUDA. We believe that the use of our proprietary OroMistâ technology to formulate an oral spray of Anagrelide with efficient oro-mucosal absorption of the active agent could represent a compelling new strategy for the treatment of solid tumours. There is substantial data in the literature to support the theory that non-enteral administration of Anagrelide could avoid the dose-limiting cardio-toxicity associated with first-pass metabolism of this potentially very effective anti-cancer agent.”

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