Pierre Fabre SAS in US$31m licence deal with Kinnate Biopharma Inc
Pierre Fabre Médicament SAS has entered into an Asset Purchase Agreement (APA) over pan-RAF programs developed by Kinnate Biopharma Inc.
With the US$31m agreement Pierre Fabre licences the global rights to exarafenib and other pan-RAF program assets from Kinnate Biopharm. With this acquisition, the French pharma company aims to expand its precision oncology pipeline particularly to treat patients with defective signalling of RAF and RAS.
Under the terms of the agrremebnt, Pierre Fabre has purchased exarafenib and other pan-RAF assets and will assume 100% of the ongoing program and costs associated with these assets. In consideration, Kinnate will receive a total consideration of up to $31m, consisting of $500,000 upfront, and $30.5m in milestone payments, as well as up to $5m of trade payables for the transferred assets.
Kinnate Biopharma Inc. iconcentrates its efforts on addressing known oncogenic drivers for which there are currently no approved targeted therapies and to overcome the limitations associated with existing cancer therapies, such as non-responsiveness or the development of acquired and intrinsic resistance.
Exarafenib is an investigational pan-RAF inhibitor which targets cancers with BRAF and NRAS-driven mutations.
