Processa Pharmaceuticals In-Licenses Ocuphire's Anticancer Agent

Processa Pharmaceuticals Inc PCSA has entered into a licensing agreement with Ocuphire Pharma Inc OCUP to in-license RX-3117.
RX-3117 is an oral anticancer agent with an improved pharmacological profile relative to gemcitabine and other nucleoside analogs.
Rx-3117 has a family of patents extending into 2036 and FDA Orphan Designation to treat Pancreatic Cancer.
Processa will evaluate the potential benefit of RX-3117 for patients with such cancers as pancreatic or non-small cell lung cancer.
Under the terms of the agreement, Processa has an exclusive worldwide license (excluding China) to develop, manufacture, use, commercialize and sublicense RX-3117.
Processa will be developing biomarker assays to identify those patients who will most likely benefit from this targeted therapy.
The First Phase 2b trial to assess the correlation of the biomarker measurements with the clinical benefit-risk of RX-3117 will start in 2022.
Price Action: OCUP shares are down 3.3% at $4.84, and PCSA shares are down 0.3% at $6.45 during the market session on the last check Thursday.