Allarity loses dovitinib rights after Novartis terminates license

02 Feb 2024
firstwordpharma.com
Phase 2License out/inPhase 3Phase 1
Novartis recently notified Allarity Therapeutics that it was breaking off their licensing agreement for dovitinib due to nonpayment. Allarity gained exclusive rights to dovitinib through the 2018 deal, but the termination now leaves the status of the pan-tyrosine kinase inhibitor uncertain.
Novartis had conducted a Phase III trial of dovitinib, but reported in 2013 that despite showing activity, the drug was no better than Bayer's Nexavar (sorafenib) in treating patients with renal cell carcinoma who had progressed on previous VEGF-targeted therapies and mTOR inhibitors. The Swiss drugmaker had also run Phase II studies in breast, liver and endometrial cancer and gastrointestinal stromal tumours.
Allarity said it received notice from Novartis on January 26 that it was cancelling their agreement based on "material breach for lack of financial payment." The termination took effect that day.
Allarity was already running a Phase Ib combination study of dovitinib along with its lead asset stenoparib, a dual PARP and Tankyrase inhibitor. It was planning to begin testing dovitinib with a PD-1 inhibitor in the first half of this year as well.
In November, Allarity disclosed in a US securities filing that it had missed license payments to Novartis last year, but that it was attempting to "cure this breach…subject to availability of funds and/or continue working with Novartis on an alternate payment structure."
Meanwhile, the company said it is committed to advancing stenoparib, which is currently also in Phase II testing as monotherapy for ovarian cancer. In December, Allarity shares gained 15% after it reported data from five evaluable patients, with one experiencing a complete response while the others demonstrated stable disease.
The company also announced late last year that James Cullem was no longer its CEO, and that he was being replaced on an interim basis by co-founder Thomas Jensen.
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