Georgiamune, an immunology-focused biotech out of Maryland, has licensed a preclinical cancer drug candidate to Menarini Group's Stemline Therapeutics for up to $1.1 billion.
For an upfront payment of $45 million, Georgiamune has granted Stemline exclusive worldwide rights to develop and commercialize GIM-621, which the biotech described in an Oct. 22 release as a first-in-class oral small molecule immunotherapy for multiple solid tumors.
Georgiamune CEO Samir Khleif, M.D., said the deal hands the GIM-621 baton to Menarini, which can provide global development and commercial support while letting Georgiamune keep its attention focused on its remaining immunotherapy pipeline.
“At Georgiamune, we are focused on uncovering novel mechanisms that control immune-cell function and translating that biology into first-in-class medicines across autoimmune disease and oncology,” Khleif said in the release. “GIM-621 is one of multiple programs to emerge from that work, alongside three programs already in clinical development across autoimmune disease and oncology.”
Georgiamune raised a $93 million series B round last month, and the company's remaining clinical programs are all first-in-class and in early stages.
They include the dual-functioning monoclonal antibody GIM-122 and the small-molecule Treg inhibitor GIM-531, both aimed at solid tumors. There's also GIM-407, a Treg activator targeting autoimmune conditions such as inflammatory bowel disease, systemic lupus erythematosus, type 1 diabetes mellitus and celiac disease. The rest of Georgiamune's pipeline is in preclinical and discovery stages.
For its part, Menarini subsidiary Stemline has three approved drugs on the market for breast cancer, multiple myeloma and a rare blood cancer, respectively. GIM-621 adds to a wide-ranging oncology pipeline across all stages of development.
Menarini and Stemline have been on the hunt for new additions to their pipeline through licensing deals over the years, including an up-to $550 million agreement with AI drugmaker Insilico Medicine last year that followed a similar deal with the same company the year before.
“We are delighted to partner with Georgiamune, a company with deep expertise in immuno-oncology which has led to the discovery of GIM-621, a first-in-class oral immunotherapy with promise across multiple solid tumors,” Menarini Group CEO Elcin Barker Ergun said in the release. “This program is a strong complement to our solid tumor portfolio, and our established oncology development and commercial capabilities position us well to accelerate its progress.”
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