San Diego-based Cylene Pharmaceuticals Inc. has entered an exclusive option and licensing agreement with Tucson, Ariz.-based TetraGene LLC to advance Cylene’s anticancer gene technologies.
Cylene is receiving an undisclosed upfront fee from TetraGene to use its cancer-targeting compound, quarfloxin. TetraGene is currently developing drugs out of small molecules, like quarfloxin, that target the structure of cancer-causing genes. Cylene is also eligible for potential milestone payments and royalties on product sales for the exclusive license.
“TetraGene is well placed to advance Quarfloxin through the clinic,” said William Rice, president and CEO of Cylene.
— SDBJ Staff Report