Ambrilia and Kotinos Pharmaceuticals Inc, have entered into a patent and technology purchase agreement whereby Kotinos will acquire Ambrilia's prostate cancer therapeutic PCK3145 and related assets. Under the agreement, Ambrilia is eligible to receive up to US$ 15 million development and sales milestones, including an upfront payment of US$ 200,000, and double-digit royalties on product net sales.

"PCK3145 provides us with the opportunity to develop an innovative therapy with potential to address the very high unmet medical need in advanced metastatic prostate cancer," said Nicholas G Bacopoulos, chairman and CEO of Kotinos. "We are eager to continue the development of this exciting compound and to expand on the positive clinical findings obtained by Ambrilia in the conduct of their phase-1 programme. We are especially pleased that Dr Chandra Panchal, coinventor of PCK3145, has joined our Scientific Advisory Board, bringing continuity to the project."

"This agreement is part of our ongoing strategic realignment, allowing us to focus on external opportunities for our remaining assets," said Dr Philippe Calais, president and CEO of Ambrilia. "We are very pleased to see PCK3145 in the hands of experienced management with a track record in cancer drug development. We look forward to a smooth transition of responsibilities and a successful development effort by Kotinos Pharmaceuticals."

PCK3145 is a synthetic peptide corresponding to amino acids 31-45 of prostate secretory protein 94 (PSP94), which has been shown to reduce prostate tumour growth and experimental skeletal metastases in various prostate tumour models.

Kotinos Pharmaceuticals is a privately held company focused on the development of drugs for cancer and other disorders.

Ambrilia Biopharma Inc is a biotechnology company focused on the discovery and development of novel treatments for viral diseases and cancer.