SignPath Pharma, Inc. Announces an Out-license Agreement of Its CorreQTTM Technology for Mitigation of QT Prolongation with Rain Therapeutics Inc.
SignPath Pharma (Salt Lake City UT) today announced the first commercial out-license of its proprietary CorreQT technology platform. SignPath entered into an agreement with Rain Therapeutics (Newark CA), which licenses SignPath’s CorreQT technology for use in conjunction with Rain’s proprietary lead compound, Tarlox® (tarloxotinib,) a potent pan-ErbB inhibitor in development as a treatment in various cancer indications.
SignPath’s 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.
"We're excited to embark on a partnership to evaluate Signpath's CorreQT technology," said Avanish Vellanki, chairman and chief executive officer of Rain Therapeutics. "Initial non-clinical data have been very encouraging."
The Rain/SignPath license agreement provides for payments of up to $78 million upon achievement of development and commercial milestones, along with royalties on commercial sales of Tarlox products incorporating SignPath’s CorreQT technology.