Allarity, Oncoheroes Ink Agreements For Pediatric Cancer Programs

Allarity Therapeutics Inc ALLR and Oncoheroes Biosciences Inc have entered into licensing agreements for Allarity's dovitinib and stenoparib for further clinical development in pediatric cancers.

• Oncoheroes will take responsibility for pediatric cancer clinical development activities for clinical-stage therapeutics. 
• Allarity will support Oncoheroes' pediatric clinical trials by providing clinical-grade drug inventory and facilitating DRP companion diagnostic screening of pediatric patients for each drug. 
• Under the licenses, Oncoheroes will receive commercialization rights for pediatric cancers, subject to Allarity's first buy-back option for each program. 
• Allarity will receive an undisclosed upfront license fee and regulatory milestones for each program. 
• Further financial terms of the licenses were not disclosed.
• If Allarity does not re-acquire the pediatric field rights, it will receive certain clinical/regulatory milestone payments and royalties on sales.
• In December, Allarity submitted an FDA marketing application seeking approval for dovitinib for third-line renal cell carcinoma. 
• Price Action: ALLR shares are up 9.21% at $11.33 during the market session on the last check Monday.