Myriad Genetics, Inc. has exclusively licensed its technology for using the single R-enantiomer of etodolac to Salmedix, Inc. for the development of cancer therapeutics. Myriad received a $2.5 million upfront payment from Salmedix and will receive milestone payments based on the achievement of developmental and commercialization objectives as well as royalties on net sales.
Myriad's technology is covered by several issued and pending patents in the United States, Europe and Japan. This intellectual property will provide additional proprietary protection to Salmedix around its clinical drug candidate SDX-101 and other potential analogs.
"We are pleased that Myriad's intellectual property will be used in a non- competitive cancer drug development program which has the potential for further returns to our shareholders in the future," said Peter Meldrum, president and CEO of Myriad Genetics, Inc.
SDX-101 is R-etodolac, a single enantiomer of etodolac. Etodolac is a mixture of two mirror image forms, called the R and S isomers. SDX-101, the R isomer of etodolac, preferentially induces apoptosis in malignant lymphocytes by a novel mechanism and is substantially devoid of anti- inflammatory activity. In September 2004, Salmedix initiated a Phase 2 clinical trial in which 80 patients with chronic lymphocytic leukemia will receive a standard chemotherapy regimen alone or in combination with SDX-101 for multiple cycles.