Loxo Oncology to acquire BTK inhibitor program from Redx Pharma
Loxo Oncology announced that the company has entered into a definitive agreement to purchase the Bruton's tyrosine kinase inhibitor program from Redx Pharma. The lead candidate from this program is expected to enter clinical development in 2018. Under the terms of the agreement, Loxo Oncology has made a $40M payment to Redx Pharma for the full acquisition of the BTK discovery program, including lead candidate LOXO-305. Loxo Oncology is not subject to milestone or royalty obligations. LOXO-305 was designed to reversibly bind BTK and preserve activity in the presence of the C481S acquired resistance mutation. Additionally, it was designed to avoid off-target kinases that have complicated the development of both covalent and reversible BTK inhibitors, such as EGFR, BMX, TEC, ITK, BLK, LCK and SRC. LOXO-305 will be entering studies in the coming months to enable submission of an Investigational New Drug application in 2018.