Boston, MA, Sept 3, 2024 – Oncoheroes Biosciences Inc. ("Oncoheroes") and Novartis have signed a worldwide, exclusive licensing agreement for dovitinib, a multi-tyrosine kinase inhibitor originally developed by Novartis. Under the terms of this agreement, Novartis granted Oncoheroes the exclusive rights to research, develop, and commercialize dovitinib for pediatric oncology indications.
Dovitinib is a pan-tyrosine kinase inhibitor (TKI) of multiple proteins known to be overexpressed in osteosarcomas and other bone sarcomas, including fibroblast growth factor receptor (FGFR), vascular endothelial growth factor receptor (VEGFR), and other receptor tyrosine kinases (RTKs). It has shown potential in treating various cancers by inhibiting pathways critical for tumor cell proliferation and survival and is considered, together with other TKIs, an interesting drug candidate for pediatric bone sarcomas.
Dovitinib received both Orphan Drug and Rare Pediatric Disease Designations from the U.S. Food Drug and Administration (FDA). In September 2023, Oncoheroes received FDA clearance (study may proceed notification) to advance an Investigational New Drug (IND) application for dovitinib, targeting advanced or relapsed pediatric solid tumors, including osteosarcoma.
“We are profoundly grateful to Novartis for this opportunity and partnership, which holds the promise of bringing new treatment opportunities to children battling cancer. This milestone is a testament to our unwavering commitment to advancing pediatric oncology and improving the lives of young patients and their families,” stated Ricardo Garcia, Oncoheroes’ CEO.
Oncoheroes is currently in discussion with international clinical trial centers in North America and Australia in view of supporting a Phase 1/2 study for dovitinib in pediatric cancer patients.
About Oncoheroes Biosciences:
Oncoheroes Biosciences is a Boston-based biotech company exclusively focused on the discovery and development of better drugs for children and adolescents with cancer. Our vision is to deliver benefits to young cancer patients and create value in the process. Oncoheroes is actively looking for in-licensing opportunities in the pediatric oncology space while working to generate new proprietary assets for a number of pediatric cancer indications with high unmet medical needs.