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Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS) has secured a $10 million loan from Hanmi Pharmaceutical Co. through a Facility Agreement. The funds will be used for the development of tuspetinib, Aptose’s lead compound for treating acute myeloid leukemia (AML). The loan is convertible as prepayment of milestone obligations under a future collaboration agreement or repayable after completing a triple drug combination trial in newly diagnosed AML patients.
Additionally, Aptose and Hanmi are negotiating a new co-development collaboration agreement for tuspetinib, aimed at providing further funding to accelerate its clinical development. Aptose initially licensed tuspetinib from Hanmi in November 2021.
Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS) ha ottenuto un prestito di 10 milioni di dollari da Hanmi Pharmaceutical Co. tramite un Accordo di Finanziamento. I fondi saranno utilizzati per lo sviluppo di tuspetinib, il composto principale di Aptose per il trattamento della leucemia mieloide acuta (AML). Il prestito è convertibile come anticipazione delle obbligazioni legate ai traguardi sotto un futuro accordo di collaborazione, oppure rimborsabile dopo il completamento di uno studio clinico su una combinazione di tre farmaci in pazienti con AML recentemente diagnosticata.
Inoltre, Aptose e Hanmi stanno negoziando un nuovo accordo di collaborazione per la co-sviluppo di tuspetinib, finalizzato a fornire ulteriori finanziamenti per accelerare il suo sviluppo clinico. Aptose ha inizialmente acquisito la licenza per tuspetinib da Hanmi nel novembre 2021.
Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS) ha asegurado un préstamo de 10 millones de dólares de Hanmi Pharmaceutical Co. a través de un Acuerdo de Financiamiento. Los fondos se utilizarán para el desarrollo de tuspetinib, el compuesto principal de Aptose para tratar la leucemia mieloide aguda (LMA). El préstamo es convertible como pago anticipado de las obligaciones por hitos bajo un futuro acuerdo de colaboración, o reembolsable después de completar un ensayo de combinación de tres medicamentos en pacientes recién diagnosticados con LMA.
Además, Aptose y Hanmi están negociando un nuevo acuerdo de colaboración para el co-desarrollo de tuspetinib, con el objetivo de proporcionar financiamiento adicional para acelerar su desarrollo clínico. Aptose inicialmente obtuvo la licencia de tuspetinib de Hanmi en noviembre de 2021.
Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS)가 Hanmi Pharmaceutical Co.로부터 1000만 달러의 대출을 설계로 확보했습니다. 이 자금은 Aptose의 주요 약물인 투스페티닙의 개발에 사용될 예정입니다. 이 대출은 향후 협력 계약에 따른 이정표 의무의 선지급으로 전환 가능하거나, 최근 진단된 AML 환자에서 삼중 약물 조합 시험을 완료한 후 상환될 수 있습니다.
또한, Aptose와 Hanmi는 투스페티닙의 공동 개발 협력 계약 체결을 위해 협상 중이며, 임상 개발을 가속화하기 위한 추가 자금을 제공할 예정입니다. Aptose는 2021년 11월 Hanmi로부터 투스페티닙의 라이센스를 처음으로 취득했습니다.
Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS) a sécurisé un prêt de 10 millions de dollars auprès de Hanmi Pharmaceutical Co. à travers un Accord de Financement. Les fonds seront utilisés pour le développement de tuspetinib, le composé principal d’Aptose pour le traitement de la leucémie myéloïde aiguë (LMA). Le prêt est convertible en paiement anticipé des obligations liées aux jalons dans le cadre d’un futur accord de collaboration ou remboursable après avoir complété un essai de combinaison de trois médicaments chez des patients récemment diagnostiqués avec la LMA.
De plus, Aptose et Hanmi négocient un nouvel accord de collaboration pour le co-développement de tuspetinib, visant à fournir un financement supplémentaire pour accélérer son développement clinique. Aptose a initialement licencié tuspetinib de Hanmi en novembre 2021.
Aptose Biosciences Inc. (NASDAQ: APTO, TSX: APS) hat ein Darlehen in Höhe von 10 Millionen Dollar von Hanmi Pharmaceutical Co. im Rahmen eines Finanzierungsvertrags gesichert. Die Mittel sollen für die Entwicklung von Tuspetinib, dem Hauptbestandteil von Aptose zur Behandlung von akuter myeloischer Leukämie (AML), verwendet werden. Das Darlehen ist wandelbar als Vorauszahlung der Meilensteinverpflichtungen unter einem zukünftigen Kooperationsvertrag oder rückzahlbar nach Abschluss einer dreifachen Medikamentenkombinationstudie bei neu diagnostizierten AML-Patienten.
Zusätzlich verhandeln Aptose und Hanmi über einen neuen Kooperationsvertrag zur gemeinsamen Entwicklung von Tuspetinib, der darauf abzielt, weitere Mittel zur Beschleunigung der klinischen Entwicklung bereitzustellen. Aptose hatte die Lizenz für Tuspetinib ursprünglich im November 2021 von Hanmi erworben.
Positive
- Secured $10 million in funding for tuspetinib development
- Potential for additional funding through future collaboration agreement with Hanmi
- Accelerated clinical development of tuspetinib for AML treatment
Negative
- Increased debt with $10 million loan
- Potential dilution if loan is converted to milestone obligations
This $10 million loan provides Aptose with important capital to advance tuspetinib’s development, particularly in combination therapy for newly diagnosed AML patients. The convertible nature of the loan into milestone prepayments offers financial flexibility. However, investors should note that this isn’t equity financing and the loan will need to be repaid if not converted.
The potential Future Collaboration Agreement with Hanmi is a significant development. If realized, it could provide additional funding and resources for tuspetinib’s clinical development, potentially accelerating the path to market. This collaboration could also validate the drug’s potential, possibly increasing investor confidence.
While this news is positive for Aptose’s near-term cash position and development prospects, it’s important to consider the long-term financial implications, including potential milestone payments and how a collaboration might affect future revenue sharing.
The focus on developing tuspetinib as a combination therapy for frontline AML treatment is noteworthy. AML is a challenging cancer with poor outcomes and new frontline treatments are desperately needed. Tuspetinib’s potential as part of a triple drug combination for newly diagnosed patients could significantly impact the treatment landscape if successful.
Aptose’s strategy aligns with current trends in AML research, where combination therapies are showing promise in improving outcomes. The collaboration with Hanmi could accelerate the clinical development process, potentially bringing this treatment to patients faster.
However, investors should be aware that AML drug development is notoriously difficult, with many promising candidates failing in late-stage trials. The success of tuspetinib in this new application is far from guaranteed and thorough clinical data will be important for assessing its true potential.
This deal showcases a growing trend in biotech: strategic partnerships between smaller biotechs and larger pharmaceutical companies. Hanmi’s continued support of Aptose and tuspetinib, beyond the initial licensing agreement, demonstrates confidence in the drug’s potential.
The structure of this deal – a convertible loan followed by a potential co-development agreement – is interesting. It provides Aptose with immediate funding while setting the stage for a deeper collaboration. This approach can be seen as a risk mitigation strategy for both parties, allowing them to further evaluate the partnership before fully committing.
For investors, this deal structure offers a positive signal about tuspetinib’s prospects while highlighting Aptose’s ability to secure favorable terms. However, it’s important to monitor the progress of the Future Collaboration Agreement negotiations, as the terms of that deal could significantly impact Aptose’s long-term value proposition.
Proceeds to be used for development of lead compound tuspetinib in combination therapy as frontline treatment for newly diagnosed AML patients
SAN DIEGO and TORONTO, Aug. 30, 2024 (GLOBE NEWSWIRE) — Aptose Biosciences Inc. (“Aptose” or the “Company”) (NASDAQ: APTO, TSX: APS), a clinical-stage precision oncology company developing tuspetinib, a highly differentiated oral kinase inhibitor for the treatment of patients with acute myeloid leukemia (AML), today announced that it received a $10 million loan through a Facility Agreement with Hanmi Pharmaceutical Co. Ltd. (“Hanmi”). The loan is convertible as prepayment of milestone obligations under the Future Collaboration Agreement (as defined hereinafter) or repayable after the expected completion of a triple drug combination trial with tuspetinib in newly diagnosed AML patients. Aptose will use the proceeds from such loan for the development of tuspetinib.
Beyond the $10 million Facility Agreement, Aptose and Hanmi have agreed to negotiate a new tuspetinib co-development collaboration agreement (the “Future Collaboration Agreement’), intended to provide additional funding to accelerate clinical development of tuspetinib. Aptose licensed tuspetinib from Hanmi Pharmaceutical in November 2021.
About Aptose
Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company’s small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s lead clinical-stage compound tuspetinib (TUS), is an oral kinase inhibitor that has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia (AML) and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Canadian and U.S. securities laws, including statements relating but not limited to, the negotiation of a collaboration agreement with Hanmi, the development of tuspetinib, and statements relating to the Company’s plans, objectives, expectations and intentions and other statements including words such as “continue”, “expect”, “intend”, “will”, “should”, “would”, “may”, and other similar expressions. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others: our ability to negotiate a collaboration agreement to jointly develop tuspetinib with Hanmi, our ability to remain compliant with Nasdaq listing requirements and other risks detailed from time-to-time in our ongoing quarterly filings, annual information forms, annual reports and annual filings with Canadian securities regulators and the United States Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in our filings with Canadian securities regulators and the United States Securities and Exchange Commission underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by law. We cannot assure you that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
For further information, please contact:
Aptose Biosciences Inc.
Susan Pietropaolo
Corporate Communications & Investor Relations
201-923-2049
spietropaolo@aptose.com
FAQ
What is the purpose of the $10 million loan Aptose (APTO) received from Hanmi?
The $10 million loan will be used for the development of tuspetinib, Aptose’s lead compound for treating acute myeloid leukemia (AML), particularly in combination therapy as a frontline treatment for newly diagnosed AML patients.
How can Aptose (APTO) repay the $10 million loan from Hanmi?
The loan is convertible as prepayment of milestone obligations under a future collaboration agreement or repayable after the completion of a triple drug combination trial with tuspetinib in newly diagnosed AML patients.
What additional agreement are Aptose (APTO) and Hanmi negotiating?
Aptose and Hanmi are negotiating a new tuspetinib co-development collaboration agreement, intended to provide additional funding to accelerate the clinical development of tuspetinib.
When did Aptose (APTO) originally license tuspetinib from Hanmi?
Aptose licensed tuspetinib from Hanmi Pharmaceutical in November 2021.
