China's National Medical Products Administration (NMPA) has signed off SELLAS Life Sciences Group Inc's (NASDAQ: SLS) IND application to initiate the first clinical trial for 3D189 in patients with hematological malignancies.
3D189, also known as SELLAS' lead product candidate, galinpepimut-S (GPS), is an immunotherapeutic that targets the Wilms Tumor 1 (WT1) protein, which is present and over-expressed in an array of hematological malignancies and solid tumors.
For a small Phase 1 trial, the IND was submitted by SELLAS' partner in China, 3D Medicines Inc.
3D Medicines expects to initiate the trial by mid-2022 and will be responsible for all expenses related to executing the trial in China.
The approval of the IND by the NMPA will trigger a milestone payment to SELLAS.
Total remaining potential milestone payments to SELLAS under the license agreement could total $192.5 million, not including future royalties.
3D Medicines holds the exclusive license from SELLAS to develop, manufacture, and commercialize 3D189 in China, Hong Kong, Macau, and Taiwan.
Price Action: SLS shares are up 9.65% at $5.57 during the market session on the last check Thursday.
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