CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, has entered into an exclusive license agreement with Cortice Biosciences Inc.
Through the agreement, CNS Pharmaceuticals has acquired a license as well as the intellectual property rights to a potentially blood-brain-barrier, permeable microtubule inhibitor called TPI 287. The inhibitor is being developed for the treatment of glioblastoma multiforme (“GBM”). In return for the license, CNS Pharmaceuticals will pay Cortice an up-front payment of 616,698 shares of its common stock, as well as the possibility of future success-dependent milestone payments of cash or the company common stock. According to the announcement, Cortice’s TPI 287 is highly synergistic with CNSP’s ongoing potentially pivotal Berubicin program, and the agreement demonstrates the company’s commitment to changing the treatment paradigm in GBM. CNS Pharmaceuticals noted that it anticipates seeking guidance from the U.S. Food and Drug Administration (“FDA”) regarding advancing TPI 287 into a potential registration study for recurrent GBM. In addition, the company announced new corporate brand and website to more closely align with its dedication to addressing the most aggressive type of brain cancer, GBM. “For years, our team has searched for another drug candidate with the same high level of human data-supported therapeutic potential in GBM as Berubicin,” said CNS Pharmaceuticals CEO John Climaco in the press release. “The in-licensing of TPI 287 is a transformational step forward, and we are prepared for the next stage to execute our vision of CNS Pharmaceuticals being the leading biopharma company developing drugs for this devastating and currently inescapably fatal disease.”
To view the full press release, visit https://ibn.fm/QouvY
About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of anticancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. The company’s lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including glioblastoma multiforme (“GBM”), an aggressive and incurable form of brain cancer. For more information about the company, please visit www.CNSPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://ibn.fm/CNSP
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