OCUP - Ocuphire Pharma inks licensing deal for RX-3117 with Processa Pharma

Processa Pharmaceuticals (PCSA) has entered into a licensing agreement with Ocuphire Pharma (OCUP), up 4% premarket to license in RX-3117.Processa will evaluate the potential benefit of RX-3117 for patients with pancreatic or non-small cell lung cancer. Under the terms of the agreement, Processa has an exclusive worldwide license (excluding China), to develop, manufacture, use, commercialize and sublicense RX-3117. Prior to conducting a pivotal trial, Processa will first conduct a Phase 2b trial in 2022 to assess the correlation of the biomarker measurements with the clinical benefit-risk of RX-3117. "The economic terms of the license will be 75% attributed to the holders of the Rexahn Contingent Value Rights and 25% attributed to Ocuphire,” said Mina Sooch, CEO of Ocuphire Pharma.Rx-3117 has a family of patents extending into 2036 as well as FDA Orphan Designation for the treatment of Pancreatic Cancer.

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Ocuphire Pharma inks licensing deal for RX-3117 with Processa Pharma