Published On: February 24th, 2023
Roquefort Therapeutics PLC (LSE: ROQ, OTCQB: ROQAF), a cancer-focused biotechnology company, has made a significant announcement recently. The Company has signed an exclusive licensing and royalty agreement with Randox Laboratories Ltd., a global leader in medical diagnostics. The agreement (“Randox Licence Agreement”) pertains to Roquefort’s Midkine antibody portfolio and is limited to medical diagnostics.
As per the Randox Licence Agreement, Roquefort Therapeutics has granted Randox an exclusive worldwide (except Japan) license to use its Midkine antibodies in medical diagnostics. This license agreement is valid for ten years. The two companies will work together on a combined research programme to identify new cancer diagnostics that will be treatable with Roquefort’s Midkine therapeutics. This collaborative effort aims to leverage the strengths of both companies to develop innovative diagnostic solutions for cancer patients.
The agreement’s commercial terms remain undisclosed. Roquefort Therapeutics estimates a transaction value of over GBP 5 million from the deal over its ten-year term. With its partnership with Randox, Roquefort has validated its strategy of targeting Midkine. A heparin-binding protein found in cancer that forbids tumour cell death and promotes the metastatic spread and abides the treatment. By partnering with Randox, a leading company that produces life-saving diagnostics essential for clinical trials, Roquefort Therapeutics can continue focusing on developing first-in-class oncology drugs.
The Randox Licence Agreement complements the development of the first in class cancer medicine by identifying patients with cancer expressing Midkine.
These patients can benefit from Midkine therapeutics (antibodies or oligonucleotides) and be enrolled in pharmaceutical clinical trials, a core area for Roquefort Therapeutics.
The Company
Roquefort Therapeutics PLC (LSE: ROQ, OTCQB: ROQAF) is a biotech company listed focused on developing innovative drugs in the high-value and rapidly growing field of oncology. The Company is strategically positioning itself to partner with or sell to big pharma after successfully developing first-in-class oncology medicines. Roquefort Therapeutics PLC, listed in March 2021, has acquired Lyramid Pty Ltd., a leader in developing medicines for a new therapeutic target, Midkine. The Company has also recently acquired Oncogeni Ltd., founded by Professor Sir Martin Evans, Nobel Laureate.
Figure 1: Roquefort Therapeutics
CEO Trevor Ajan Reginald
With a strong background in drug development, biotech transactions, and commercialisation, Roquefort Therapeutics CEO Ajan Reginald is an experienced biotechnology expert who brings valuable expertise. Concerning the agreement, he expressed his views, “This is a highly complementary and synergistic partnership with the UK’s leading diagnostics company, Randox, which enables Roquefort Therapeutics to remain focused on developing first-in-class medicines, while Randox develops the Midkine cancer diagnostics that are essential for our clinical trials.”
Figure 2: Roquefort Therapeutics CEO Trevor Ajan Reginald
Roquefort Therapeutics Investor Outlook
On February 23, 2023, Roquefort Therapeutics’ share price was GBX 7.25 per share, and the Year-to-Date Return of the Company was 11.11%. The Roquefort’s 52-week range was GBX 6.08 to GBX 11.75. The Company’s market capitalisation was GBP 9.04 million as of date.
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