Brickell Biotech, Carna Biosciences Ink Licensing Pact For STING inhibitors

Brickell Biotech Inc BBI has entered into an exclusive agreement with Carna Biosciences Inc to develop and commercialize Carna's portfolio of oral Stimulator Interferon Genes (STING) antagonists. 

• STING is a well-known mediator of innate immune responses. Excessive signaling through STING is linked to several diseases, ranging from autoimmune disorders, such as systemic lupus erythematosus and rheumatoid arthritis.
• "We believe that this portfolio of preclinical STING inhibitors is complementary to our current development-stage pipeline of NCEs, which includes BBI-02, a potential first-in-class DYRK1A inhibitor program that is expected to enter a Phase 1 study in the coming months," commented Robert Brown, CEO of Brickell. 
• Related: Brickell Biotech Acquires Rights To Candidate For Autoimmune Diseases.
• Under the license agreement terms, Brickell will make a one-time cash payment to Carna of $2.0 million. 
• In addition, Brickell will pay Carna milestone payments of up to $258.0 million. 
• Carna is also eligible to receive tiered royalty payments ranging from mid-single digits up to 10% of net sales. 
• Brickell will be responsible for all future development activities and expenses related to the STING inhibitor platform.
• Price Action: BBI shares are down 3.65% at $0.25 during the market session on the last check Wednesday.