BeiGene Will Not Go Forward With Licensing Pact For Leap Therapeutics' Lead Cancer Candidate

Leap Therapeutics Inc LPTX announced BeiGene Ltd's BGNE option under the Exclusive Option, and License Agreement granting rights in certain Asian territories to DKN-01 has expired.
The companies announced an option agreement in January 2020 for DKN-01 in Asia (excluding Japan), Australia, and New Zealand.
Leap and BeiGene will continue collaborating on Part C of the DisTinGuish trial, a randomized controlled trial of DKN-01 combined with BeiGene's tislelizumab and chemotherapy in first-line gastric cancer patients, as a clinical collaboration with BeiGene supplying tislelizumab.
Enrollment in the 160-patient study is expected to be completed in late 2023.
Related: Leap Therapeutics Says DKN-01 Combo Regime Show Compelling Efficacy In Gastric Cancer Patients.
"With global rights to DKN-01 and a cash runway that was enhanced into mid-2025 by our recent acquisition of Flame Biosciences, we will look to identify a new strategic partner as we generate new clinical data from our ongoing studies in first-line gastric cancer patients, second-line colorectal cancer patients, and an investigator-sponsored study in endometrial cancer patients," said Douglas E. Onsi, President & CEO of Leap.
Earlier this month, Leap Therapeutics agreed to acquire Flame Biosciences Inc, a privately-held biotechnology company, in an all-stock transaction.
Price Action: LPTX shares are down 13.2% at $0.38 on the last check Friday.