G1 Therapeutics announces global licensing agreement for lerociclib

G1 Therapeutics and Deimos Biosciences, a portfolio company of Jupiter Bioventures, announced a global licensing agreement (excluding the Asia-Pacific region) for lerociclib for radioprotective uses. Lerociclib is a potent and selective inhibitor of cyclin-dependent kinases 4 and 6. Such inhibitors can increase the survival of animals exposed to radiation. Jupiter Bioventures is a company creation engine that focuses on de-risking early-stage projects, partnering with the world’s leading biologists and physicians. Deimos Biosciences has the exclusive rights to develop, manufacture, and commercialize lerociclib for certain radioprotective uses in the U.S., Europe, Japan, and all other global markets, excluding the Asia-Pacific region, which G1 has already licensed to Genor Biopharma. In addition, Lerociclib was recently licensed globally (excluding the Asia-Pacific region) to Pepper Bio for all indications except for certain radioprotectant uses. Under the terms of the agreement, G1 is expected to receive shares of Deimos Biosciences’ common stock representing 10% of Deimos Biosciences’ outstanding equity capitalization on a fully diluted basis, in addition to a 20% royalty on aggregate annual net sales of lerociclib.