Aptose Secures $10M from Hanmi; Discussing Joint Tuspetinib Development

Aptose Biosciences Inc. (Aptose), a clinical-stage precision oncology company, has announced the acquisition of a $10 million loan through a Facility Agreement with Hanmi Pharmaceutical Co. Ltd. The loan is poised to either be converted into prepayment of milestone obligations under a Future Collaboration Agreement or repaid following the anticipated completion of a triple drug combination trial involving tuspetinib, and newly diagnosed acute myeloid leukemia (AML) patients. The funds from this loan are earmarked for the development of tuspetinib.

In addition to the $10 million agreement, Aptose and Hanmi have committed to negotiating a new tuspetinib co-development collaboration agreement. This Future Collaboration Agreement aims to secure further funding to hasten the clinical advancement of tuspetinib. Aptose initially licensed tuspetinib from Hanmi Pharmaceutical in November 2021.

Aptose Biosciences is a biotechnology firm at the clinical stage, focused on developing precision medicines that meet previously unmet medical needs in oncology, especially in the field of hematology. Their pipeline of small molecule cancer therapeutics is designed to be effective as standalone treatments and to bolster the efficacy of other anti-cancer therapies without causing overlapping toxicities.

Tuspetinib (TUS), Aptose’s leading clinical-stage compound, is an oral kinase inhibitor. This compound has shown promising activity both as a monotherapy and in combination with other therapies in patients with relapsed or refractory AML. Tuspetinib is now being developed as a frontline triplet therapy for newly diagnosed AML patients.

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