Sprint Bioscience AB

Day One Biopharmaceuticals is letting the sun shine on the back end of its pipeline, inking a new preclinical licensing pact with Sprint Bioscience. Cruising on the midstage clinical success of a brain cancer therapy, Day One Biopharmaceuticals is using the wind at its sails to bolster the back of its pipeline with a $3 million upfront deal for Sprint Bioscience's preclinical program. The licensing pact, announced Wednesday, gives Day One exclusive rights to Sprint’s vaccinia-related kinase 1 (VRK1) project, a synthetic lethal target that’s associated with adult and pediatric cancers when overexpressed. In addition to receiving $3 million upfront, Sprint stands to gain an additional $313 million in milestone payments. VRK1 makes up a group of proteins that helps repair damaged DNA, maintains the cell life cycle and works with lysosome metabolism. Sprint lists the target as having the potential to enhance the body’s immune response, serving as a potential one-two punch with other immuno-oncology medicines.  The program is still in its infancy, however, with Day One co-founder and R&D chief Samuel Blackman, M.D., Ph.D., saying that the two companies will collaborate on the lead optimization process as the asset makes its way toward the clinic. Day One will reimburse Sprint for preclinical and development costs. It’s a relatively low-risk partnership for Day One, which is looking to bulk up the back end of its pipeline. The company had no preclinical assets in its pipeline before this deal. The pediatric-cancer-focused biotech has been on a roll with lead asset tovorafenib, a type II PAN-RAF inhibitor currently in three trials. Day One initiated submission of an approval application to the FDA this year in pediatric patients with relapsed or progressive low-grade glioma and is set to complete the filing by October.  Phase 2 data presented at the American Society of Clinical Oncology annual meeting this year found that tovorafenib elicited a 67% objective response though a median duration of response was not reached by the time of the Dec. 22, 2022, cutoff date. The median duration that patients were on treatment was just less than 11 months. Two days later, the company went on the fundraising prowl, closing a $172.5 million public offering June 12. Day One now has $442.9 million in cash on hand, enough to last into 2026. 

Day One Biopharmaceuticals said that it reached an agreement giving it an exclusive global license to develop small-molecule candidates stemming from Sprint Bioscience's VRK1 programme for cancers with high unmet need. The news sent Sprint's stock surging over 260% on Wednesday.Samuel Blackman, who heads R&D operations at Day One, called the collaboration "an important continuation of measured portfolio development at [our company], which focuses on targeted therapies for children and adults with cancer in need of novel treatment approaches." He indicated that the parties will work " to advance the VRK1 programme through lead optimisation and into the clinic."The companies noted that overexpression of VRK1, which helps regulate cell division and DNA repair, is linked to poor prognosis in a variety of adult and paediatric cancers. The marker has been also identified as a synthetic lethal target in tumours where expression of its VRK2 paralogue is lost. "Silencing of VRK2 expression via promoter methylation has been noted in the majority of high-grade gliomas and high-risk neuroblastomas, providing a concrete approach for selecting patients with tumours sensitive to VRK1 inhibition," the companies said.Under the agreed terms, Day One will make an upfront payment of $3 million to Sprint and also reimburse the company for preclinical R&D expenses. In addition, Sprint will be eligible for milestones of up to about $313 million plus single-digit royalties pending achievement of certain R&D, regulatory and commercial outcomes.In 2021, Sprint entered into a collaboration worth up to $277 million that granted Deciphera Pharmaceuticals exclusive global rights to its Vps34 cancer drug programme.

Day One receives an exclusive license to develop and commercialize small molecule drug candidates for pediatric and adult cancers with high unmet need Collaboration augments Day One’s portfolio of targeted therapies in oncology BRISBANE, Calif., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Day One Biopharmaceuticals (Nasdaq: DAWN), a clinical-stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, today announced it has entered into an exclusive, worldwide license agreement and research collaboration with Sprint Bioscience for its VRK1 program. Vaccinia-related kinase 1 (VRK1) is a novel target involved in the regulation of cell division and DNA damage repair. Over-expression of VRK1 is linked to poor prognosis in a variety of adult and pediatric cancers, and VRK1 has been identified as a synthetic lethal target in tumors where expression of its paralog, VRK2, is lost. Silencing of VRK2 expression via promoter methylation has been noted in the majority of high-grade gliomas and high-risk neuroblastomas, providing a concrete approach for selecting patients with tumors sensitive to VRK1 inhibition. “This collaboration is an important continuation of measured portfolio development at Day One, which focuses on targeted therapies for children and adults with cancer in need of novel treatment approaches,” said Dr. Samuel Blackman, co-founder and head of research and development, Day One. “We look forward to collaborating with Sprint Bioscience, who has strong discovery and research expertise, and working to advance the VRK1 program through lead optimization and into the clinic.” Under the terms of the agreement, Day One will make an upfront payment of $3 million to Sprint Bioscience and reimburse Sprint Bioscience for pre-clinical research and development expenses. Sprint Bioscience will be eligible to receive additional milestone payments of up to approximately $313 million plus single-digit royalties pending achievement of certain research, development, regulatory and commercial outcomes. About Day One Biopharmaceuticals Day One Biopharmaceuticals is a clinical-stage biopharmaceutical company that believes when it comes to pediatric cancer, we can do better. We put kids first and are developing targeted therapies that deliver to their needs. Day One was founded to address a critical unmet need: the dire lack of therapeutic development in pediatric cancer. The Company’s name was inspired by “The Day One Talk” that physicians have with patients and their families about an initial cancer diagnosis and treatment plan. Day One aims to re-envision cancer drug development and redefine what’s possible for all people living with cancer—regardless of age—starting from Day One. Day One partners with leading clinical oncologists, families, and scientists to identify, acquire, and develop important emerging cancer treatments. The Company’s lead product candidate, tovorafenib, is an investigational, oral, brain-penetrant, highly-selective type II pan-RAF kinase inhibitor. The Company’s pipeline also includes pimasertib, an investigational, oral, highly-selective small molecule inhibitor of mitogen‐activated protein kinases 1 and 2 (MEK-1/-2). Day One is based in Brisbane, California. For more information, please visit or find the company on LinkedIn or Twitter. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking” statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Day One’s plans to develop cancer therapies, the results of Day One’s VRK1 program and its collaboration with Sprint Bioscience, expectations from current clinical trials, the execution of the Phase 2 and Phase 3 clinical trials for tovorafenib as designed, any expectations about safety, efficacy, timing and ability to complete clinical trials, release data results and to obtain regulatory approvals for tovorafenib and other candidates in development, and the ability of tovorafenib to treat pLGG or related indications. Statements including words such as “believe,” “plan,” “continue,” “expect,” “will,” “develop,” “signal,” “potential,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause Day One’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties in this press release and other risks set forth in our filings with the Securities and Exchange Commission, including Day One’s ability to develop, obtain regulatory approval for or commercialize any product candidate, Day One’s ability to protect intellectual property, the potential impact of global business or macroeconomic conditions, including as a result of inflation, rising interest rates, instability in the global banking system, and geopolitical conflicts and the sufficiency of Day One’s cash, cash equivalents and investments to fund its operations. These forward-looking statements speak only as of the date hereof and Day One specifically disclaims any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law. DAY ONE MEDIA Laura Cooper, Head of Communications media@dayonebio.com DAY ONE INVESTORS LifeSci Advisors, PJ Kelleher pkelleher@lifesciadvisors.com