Kolltan enters into license and option agreement with MedImmune

Kolltan in-licenses monoclonal antibody targeting HER3 receptor tyrosine kinase; Kolltan expects to advance product candidate into clinical testing in 1Q 2014 

Kolltan Pharmaceuticals, a privately held biopharmaceutical company, today announced an agreement with MedImmune, the global biologics research and development arm of AstraZeneca, under which Kolltan will in-license a monoclonal antibody targeting the Her3 receptor tyrosine kinase from MedImmune. Based on the current program status, Kolltan anticipates initiating Phase 1 clinical testing of this product in the first quarter of 2014. 

“This in-licensing opportunity exemplifies our leadership in and focus on receptor tyrosine kinases and their key role in oncology and other serious diseases,” commented Dr. Jerry McMahon, Kolltan’s President and Chief Executive Officer. “Kolltan will apply its extensive scientific expertise and R&D drug development experience to prepare for entry into the clinic, including a focus on patient selection strategies. Kolltan is excited to advance this innovative product candidate into clinical testing for the broad potential treatment of cancer patients where this target plays a role.” 

As part of the agreement, both companies will have the potential for future cost-, risk- and profit-sharing for this product candidate after Kolltan completes early clinical testing. Financial details of the agreement were not disclosed. 

“Kolltan’s team has a substantial track record in oncology and possesses a unique understanding of the science of the HER3 target. As such, we believe Kolltan will optimize development of this innovative and differentiated product candidate, which was first discovered and developed at MedImmune,” said Dr. Bahija Jallal, Executive Vice President, MedImmune. 

About Kolltan Pharmaceuticals 
Kolltan, a privately held company, is advancing a new generation of therapeutics in oncology and other diseases by creating novel biologic agents that can modulate the function of receptor tyrosine kinases (RTKs). Kolltan has a unique understanding of RTKs, their ligands, and cellular signaling and has assembled a team with significant expertise and unique insight into these drug targets. Kolltan’s senior management has a track record of success in bringing products to patients and significant value to shareholders. Located adjacent to the Yale Medical School in New Haven, Connecticut, Kolltan is advancing a new generation of therapeutics in oncology and other diseases, in collaboration with the laboratory of Kolltan founder, Dr. Joseph Schlessinger. The Company’s breakthrough R&D pipeline is advancing rapidly, with the first clinical trial program anticipated to begin in the first half of 2014. 

For more information about Kolltan Pharmaceuticals, please visit www.kolltan.com.