InvestorNewsBreaks – Processa Pharmaceuticals Inc. (NASDAQ: PCSA) Announces Strategic Licensing Agreement

June 17, 2021 10:55:26
Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and quality of life for patients who have unmet medical needs, has entered into a licensing agreement with Ocuphire Pharma Inc. (NASDAQ: OCUP). Under the agreement, Processa has an exclusive worldwide license (excluding China) to develop, manufacture, use, commercialize and sublicense RX-3117, an oral, anticancer agent with an improved pharmacological profile relative to gemcitabine and other nucleoside analogs. The announcement noted that Rx-3117 has a family of patents extending into 2036; it also has U.S. Food and Drug Administration (“FDA”) Orphan Designation for the treatment of pancreatic cancer. The agreement also notes that Processa will evaluate the potential benefit of RX-3117 for patients with such cancers as pancreatic or non-small cell lung cancer. In the announcement Ocuphire Pharma noted that the RX-3117 program is a legacy asset from its merger with Rexahn Pharmaceuticals and is outside Ocuphire Pharma’s core ophthalmology competency. “We are excited to expand our oncology portfolio, while providing an important solution for patients with pancreatic and non-small cell lung cancer,” said Processa Pharmaceuticals CEO Dr. David Young in the press release. “The asset aligns with our mission to identify and bring to market better and safer drugs for patients who need treatment options to improve their survival and/or quality of life. From our Phase 2b trial, we expect to obtain biomarker data that will identify patients who will benefit the most from this drug while significantly increasing the probability of a successful Phase 3 trial.” To view the full press release, visit About Processa Pharmaceuticals Inc. The mission of Processa is to develop products with existing clinical evidence of efficacy for patients with unmet or underserved medical conditions who need treatment options that improve survival and/or quality of life. The company uses these criteria for selection to further develop its pipeline programs to achieve high-value milestones effectively and efficiently. PCSA’s active clinical pipeline programs include PCS6422 (“PCS6422”) (metastatic colorectal cancer and breast cancer), PCS499 (“PCS499”) (ulcerative Necrobiosis Lipoidica) and PCS12852 (“PCS12852”) (gastroparesis). The markets of these indications are in excess of $1 billion each. The members of the Processa development team have been involved with more than 30 FDA drug approvals, including drug products targeted to orphan disease conditions, and more than 100 FDA meetings throughout their careers. For more information, visit the company’s website at NOTE TO INVESTORS: The latest news and updates relating to PCSA are available in the company’s newsroom at

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