Race Oncology Ends License Agreement with City of Hope

Race Oncology Ltd. ( (AU:RAC) ) just unveiled an update.

Race Oncology has terminated its global IP license agreement with the City of Hope, originally executed in July 2023, after determining that maintaining the license was not beneficial for shareholders due to the associated costs. This termination allows Race to retain full freedom to operate and utilize bisantrene in clinical applications, without future development, diligence, or royalty liabilities. The decision is based on legal and IP advice, and Race remains confident in its intellectual property strategy for bisantrene.

More about Race Oncology Ltd.

Race Oncology (ASX: RAC) is an ASX-listed clinical stage biopharmaceutical company focused on cancer care. The company’s lead asset, bisantrene, is an anticancer agent with a strong clinical history, known for its therapeutic benefits and reduced cardiotoxicity compared to certain anthracyclines. Race Oncology is advancing bisantrene for multiple oncology indications and exploring its use in acute myeloid leukemia. The company collaborates with various institutions and is seeking partnerships to enhance access to bisantrene globally.

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