GenFleet Therapeutics has granted GFH009 rights to SELLAS Life Sciences Group Inc (NASDAQ:SLS) across all therapeutic and diagnostic uses worldwide outside of Greater China (mainland China, Hong Kong, Macau, and Taiwan).
- GFH009 is a highly selective small-molecule cyclin-dependent kinase 9 (CDK9) inhibitor.
- GFH009 is currently in Phase 1 trials in the U.S. and China.
- After completing the Phase 1 trial and achieving a maximum tolerated dose, SELLAS plans to commence a Phase 2 trial of GFH009 combined with venetoclax and azacitidine in acute myeloid leukemia (AML) patients.
- The Company also plans to commence a Phase 1/2 basket clinical trial of monotherapy GFH009 in pediatric soft tissue sarcomas in late 2022 or early 2023, expected to be complete by the end of 2023.
- GenFleet plans to commence several Phase 2 studies for various hematological malignancies in China.
- SELLAS will pay an upfront payment of $10 million.
- GenFleet will also receive up to $140 million in milestone payments.
- Related: Sellas Life Sciences Shares Jump As China Approves Galinpepimut IND For Blood Cancer.
- Separately, SELLAS Life priced its public offering of 4.6 million shares and accompanying warrants to purchase up to 4.6 million shares at a combined price of $5.40, with gross proceeds of $25 million.
- The warrants have an exercise price of $5.40 per share.
- Price Action: SLS shares closed 37.9% at $4.15 during the premarket session on the last check Friday.
