Biopharmaceutical company SignPath Pharma has signed an agreement for the first commercial out-license of its proprietary CorreQT technology platform, the company announced on Thursday.

Under the agreement, Rain Therapeutics licenses the CorreQT technology for use in its proprietary lead compound, Tarlox (tarloxotinib), a potent pan-ErbB inhibitor in development as a treatment in various cancer indications.

According to SignPath, its CorreQT technology is a novel, patented, platform that eliminates cardiac arrhythmia (QT prolongation), which is a common side effect of many drugs. The CorreQT technology has been shown to effectively eliminate these cardiac side effects without negatively impacting the efficacy or pharmacokinetics of the drug target.

The terms of the Rain/SignPath licence agreement include payments of up to USD78m upon achievement of development and commercial milestones, along with royalties on commercial sales of Tarlox products incorporating SignPath's CorreQT technology.