PharmaEngine, Inc. (TWO: 4162) announced today that PharmaEngine and Sentinel Oncology Limited have entered into an exclusive license agreement under the option based on a Collaboration and License Agreement on November 26, 2020. PharmaEngine has obtained exclusive rights to develop and commercialize PEP07 worldwide for the treatment of liquid and solid tumors.

Under the Agreement, Sentinel Oncology will be eligible to receive up to $140.5 million upon upfront payment and achievement of certain development, regulatory and sales milestones, as well as tiered royalties on net product sales of PEP07 worldwide.

"We are thrilled to collaborate with Sentinel Oncology to advance the development of this product through global development and commercialization." Hong-Ren Wang, Ph.D., President and CEO of PharmaEngine, "We are attracted by the promising preclinical data and developability of PEP07 demonstrated during the collaboration. We believe that we could move PEP07 into clinical stage soon and expand the portfolio in the DDR area by identifying new therapeutic targets, based on our successful experience with ONIVYDE®.”