Brickell Biotech, Carna Biosciences Ink Licensing Pact For STING inhibitors

Brickell Biotech Inc (NASDAQ: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.