Aldoxorubicin Hydrochloride

Jan. 11, 2024 (GLOBE NEWSWIRE) -- XOMA Corporation (NASDAQ: XOMA), the biotech royalty aggregator, announced today that based upon the U.S. Food and Drug Administration’s (FDA) acceptance of Zevra Therapeutics’ New Drug Application (NDA) for arimoclomol, an orally-delivered, first-in-class therapy for Niemann-Pick disease type C (NPC), XOMA will make a $1 million milestone payment to LadRx. “NPC is an ultra-rare, progressive, neurodegenerative genetic disorder where those living with NPC lose independence due to physical and cognitive limitations, with key neurological impairments presenting in speech, cognition, swallowing, ambulation, and fine motor skills. Arimoclomol has the potential to be the first approved therapy designed to slow the progress of this devastating disease,” stated Brad Sitko, Chief Investment Officer at XOMA. “We, together with the NPC community, support Zevra’s efforts to secure marketing approval for arimoclomol in the U.S. and the EU.” In June 2023, XOMA announced it had paid LadRx a $5 million upfront payment plus a share of future event-based milestones to acquire a mid-single digit royalty on arimoclomol’s commercial sales and up to $52.6 million, net, in potential milestone payments from Zevra. The transaction also included a mid-single-digit to mid-teens royalty rate on commercial sales of aldoxorubicin depending upon the indication, in addition to potential payments of up to $343 million in development and commercial milestones from ImmunityBio. XOMA is a biotechnology royalty aggregator playing a distinctive role in helping biotech companies achieve their goal of improving human health. XOMA acquires the potential future economics associated with pre-commercial therapeutic candidates and commercial assets that have been licensed to pharmaceutical or biotechnology companies. When XOMA acquires the future economics, the seller receives non-dilutive, non-recourse funding they can use to advance their internal drug candidate(s) or for general corporate purposes. The Company has an extensive and growing portfolio with more than 70 assets (asset defined as the right to receive potential future economics associated with the advancement of an underlying therapeutic candidate). For more information about the Company and its portfolio, please visit www.xoma.com. The content above comes from the network. if any infringement, please contact us to modify.

LOS ANGELES--( BUSINESS WIRE )--LadRx Corporation (OTCQB: LADX) (“LadRx” or the “Company”), a biopharmaceutical innovator focused on research and development of life-saving cancer therapeutics, today issued the below letter to shareholders providing a corporate update and anticipated milestones for 2024 regarding arimoclomol and LADR-7. *** January 9, 2024 Dear LadRx Shareholders, It was a busy close to 2023 and has already been an exciting start to 2024. We are pleased to provide the following updates on the subjects of arimoclomol and LADR-7. Arimoclomol In 2023, LadRx entered into an agreement with XOMA Corporation (NASDAQ: XOMA) (“XOMA”) in which LadRx transferred the economic rights from arimoclomol to XOMA in exchange for an upfront payment and subsequent payments upon the achievement of certain milestones. The first of those milestones is the notification of the sponsor, Zevra Therapeutics, Inc. (NasdaqGS: ZVRA) (“Zevra”), by the U.S. Food and Drug Administration (“FDA”) that the New Drug Application (“NDA”) for arimoclomol has been accepted by the FDA. On January 8, 2024, Zevra announced the acceptance of the arimoclomol NDA by the FDA, with a Prescription Drug User Fee Act (“PDUFA”) date of June 21, 2024, triggering a $1 million payment obligation from XOMA to LadRx. The second milestone related to arimoclomol is the first commercial sale of arimoclomol by Zevra, which triggers an additional $1 million payment from XOMA to LadRx (which will net LadRx $600,000). Zevra has not released the expected timing of the first commercial sale, though LadRx management believes that the first commercial sale in 2024 is a reasonable expectation, should the FDA approve the NDA. Development of LADR-7 As previously communicated, LadRx is working diligently towards entering the first-in-human studies of LADR-7, which is a targeted, controlled release form of the highly potent tubulin inhibitor auristatin-E. The Company is pleased to report that the production of approximately 100 grams of LADR-7 under Good Manufacturing Practices (“GMP”) has progressed smoothly, has been completed and the GMP LADR-7 currently in hand is sufficient to carry out final toxicology studies, and to initiate Phase IA studies in humans. The Company has also initiated the Good Laboratory Practices (“GLP”) toxicology program that is expected to form the foundation of the Investigational New Drug (“IND”) application for LADR-7 to the FDA. In the fourth quarter of 2023, the Company submitted a pre-IND to the FDA, outlining our proposed toxicology program. If the FDA agrees with our proposed toxicology program, management expects the toxicology studies to be completed and the IND for LADR-7 to be filed with the FDA by the end of the third quarter of 2024 or the beginning of the fourth quarter of 2024. Absent a clinical hold from the FDA, this timeline should allow the Company to be ready for first-patient dosing with LADR-7 by the end of 2024 (the period for the FDA review of an IND is 30 days). If the Company encounters difficulties with the toxicology program or fails to meet the FDA’s requirements for the IND, the first-patient dosing could be substantially delayed. With the $1 million milestone payment from XOMA, management projects the resulting cash on hand should be sufficient to reach at least the IND filing for LADR-7. In addition to receiving this additional cash influx, LadRx making an IND submission for LADR-7 by the end of the third quarter of 2024 or the beginning of the fourth quarter of 2024 is dependent on the toxicology program going smoothly, and on the FDA accepting LadRx’s proposed toxicology program. In the second half of 2023, the Company made material progress on the patent protection of its LADR-based molecules. LadRx’s auristatin-based drugs were granted patents in Europe, Japan, Australia and South Africa, while the maytansinoid-based drugs received a patent in Israel. The broader LADR platform, which we employ in both auristatin- and maytansinoid-based drugs, received a patent in Brazil. The prosecution of patents covering the LADR drugs has been met with success, and there remain additional patents pending for both the LADR platform and its derivative drugs. We look forward to continuing to build on our momentum at LadRx and a successful 2024. Sincerely, Stephen Snowdy, PhD CEO of LadRx *** Forward-Looking Statements This press release may contain certain statements relating to future results which are forward-looking statements, including whether the company’s strategic review will be successful and whether the stock split will help the company be more successful in evaluating strategic alternatives. These statements are not historical facts, but instead represent only LadRx’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of LadRx’s control. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; and other risks and uncertainties described in the most recent annual and quarterly reports filed by LadRx with the SEC, including disclosures under the heading “Risk Factors,” and current reports filed since the date of the LadRx’s most recent annual report. All forward-looking statements are based upon information available to LadRx on the date the statements are first published. LadRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About LadRx LadRx Corporation (OTCQB: LADX) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer. LadRx transferred the royalty and milestone rights associated with its previously developed drugs, arimoclomol and aldoxorubicin, to XOMA Corporation (NASDAQ: XOMA) in exchange for $5 million in gross proceeds and up to an additional $6 million based on regulatory and commercial milestones related to the development of arimoclomol and aldoxorubicin by their respective sponsors, Zevra, Inc. and ImmunityBio, Inc. (net of the existing licensing and milestone obligations owed by LadRx related to arimoclomol and aldoxorubicin). LadRx Corporation’s website is www.ladrxcorp.com .