LadRx and ImmunityBio End Aldoxorubicin License Agreement

LadRx, a biopharmaceutical company focused on developing cancer therapeutics, has announced that it has regained control over the drug aldoxorubicin. The Los Angeles-based company had entered into a licensing agreement with NantCell, Inc. and its parent company ImmunityBio, Inc. in 2017, but both parties have now agreed to terminate this arrangement. This development means that LadRx will once again oversee the progress and development of aldoxorubicin.

In an earlier transaction in 2023, LadRx had transferred its royalty and milestone rights related to aldoxorubicin and another drug, arimoclomol, to XOMA Corporation. This deal was worth $5 million upfront, with a potential additional $7 million contingent upon achieving specific milestones. XOMA agreed to the mutual termination of the LadRx-NantCell license to facilitate aldoxorubicin's return to LadRx. Concurrently, LadRx and XOMA have amended their Royalty Purchase Agreement. As per the new terms, XOMA will receive a low-single-digit synthetic royalty on aldoxorubicin and a mid-single-digit percentage of any revenue LadRx earns from future out-licensing agreements related to the drug. However, the agreement regarding arimoclomol remains unaffected by this termination.

Stephen Snowdy, PhD, CEO of LadRx, expressed enthusiasm about the reacquisition of aldoxorubicin. He highlighted the drug's significance as the first LADR-based drug to enter clinical trials. Aldoxorubicin has demonstrated lower cardiotoxicity compared to doxorubicin in multiple studies and showed promising efficacy in a Phase II trial for advanced soft tissue sarcoma. Dr. Snowdy pointed out that aldoxorubicin has validated the LADR platform's ability to deliver higher doses of chemotherapeutic drugs by targeting chemotoxins via the LADR backbone.

The CEO extended congratulations to ImmunityBio for its achievements with immunity-based products and acknowledged their shift in focus towards these modalities. Over the next few months, LadRx plans to review both pre-clinical and clinical data for aldoxorubicin to determine the next steps in its clinical development. In addition, the company is progressing with its LADR-7 program and is on schedule to file an Investigational New Drug (IND) application for LADR-7 by the third or fourth quarter of 2024.

LadRx Corporation continues to make strides in their mission to develop life-saving cancer treatments. The reacquisition and future development of aldoxorubicin indicate the company's commitment to advancing promising cancer therapeutics.

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