It was reported yesterday that United States-based CASI Pharmaceuticals has signed a license agreement for exclusive worldwide rights to the investigational anti-CD38 monoclonal antibody TSK011010 programme from Black Belt Therapeutics.

According to the terms of the contract, CASI Pharmaceuticals has received global rights to TSK011010 for an upfront payment of EUR5m and an equity investment of EUR2m, along with certain milestone and royalty payments.

The equity investment will be made in a newly established company of Black Belt Therapeutics concentrating on novel immuno-oncology targets. CASI will be responsible for all development and commercialisation activities of the TSK011010 programme.

The product is at the IND/IMPD submission stage of development, with Phase one trials expected to start in late 2019/early 2020. Preclinical data indicates that the product is to have improved activity against a broad array of malignancies that express CD38 and potentially better safety compared to other CD38 Mabs.