Spectrum Acquires Worldwide License to EndothelinB Agonists

Spectrum Pharmaceuticals has acquired an exclusive worldwide license to develop and commercialize endothelinB agonists for the treatment of cancer, including treatment of solid tumors, from Chicago Labs, a privately held company.

Chicago Labs licensed the technology and related patents from the University of Illinois. Chicago Labs will receive an upfront fee of $100,000, and is eligible to receive payments upon achievement of certain development, regulatory and sales milestones, in addition to royalties on potential net sales and a portion of sublicense income, if any. Additional financial details were not disclosed.