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Aptose Biosciences reaches China distribution deal for CG-806 with South Korea's CrystalGenomics

The pact brings the drug therapy for leukemia to China, Hong Kong and Macau markets
China map
CG-806 is a small molecule that is being developed for the treatment of acute myeloid leukemia

Aptose Biosciences (NASDAQ:APTO) today unveiled a ground-breaking licensing agreement with South Korea’s CrystalGenomics Inc to sell its drug therapy CG-806 in China, Hong Kong and Macau.

CG-806 is a small molecule that is being developed for the treatment of acute myeloid leukemia, B-cell malignancies and additional blood cancers.

Aptose shares climbed 11.8% to US$4.22 in pre-market trade on the back of the company’s deal.

Under the terms, Aptose, which is based in San Diego, California, will pay CrystalGenomics US$3m up front as well as make additional payments for commercial-based milestones and royalties. The deal's value for the China territory, including the upfront payment, could reach as much as US$125mln.

Dr. William Rice, Aptose’s president and chief executive, said pre-clinical work with CG-806 has shown its superior ability to kill B-cell malignancy relative to other treatments.

“We believe that CG-806 has the potential to serve as a transformational agent for multiple hematologic cancers,” he said.

Aptose has been conducting investigational new drug-enabling studies with CG-806 as well as numerous preclinical studies.

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