Selvita S.A. (WSE:SLV), and Berlin-Chemie Menarini, a company of the Menarini Group, announced today that both companies have entered into a global license agreement for SEL24, a dual PIM/FLT3 inhibitor currently in Phase I/II trials in acute myeloid leukemia (AML) patients.

SEL24 is a Selvita-developed first-in-class orally available dual PIM/FLT3 kinase inhibitor with a unique activity profile. While it is currently investigated for the treatment of patients with relapsed/refractory (R/R) AML, preclinical data suggest potential activity in other hematological malignancies and solid tumors. The program entered Phase I/II in early 2017.

"We are excited to sign a license agreement for SEL24 with the Menarini Group" – said Pawel Przewiezlikowski, Chief Executive Officer at Selvita. "This collaboration takes us another step closer to delivering a much-needed new treatment for AML patients. Menarini Group dedication to providing transformative therapies for people courageously facing various life-threatening diseases such as cancer, assures us that the potential of SEL24 in treatment of cancer patients will be fully realized."

According to the agreement, Selvita will grant Menarini Group an exclusive license to further research, develop, manufacture and commercialize SEL24 worldwide. Under the terms of the agreement, Selvita will receive an upfront payment, and will be eligible to receive milestone payments and royalty on future sales.

Dr. Reinhard Uppenkamp, Chairman of Berlin Chemie-Menarini, highlighted the scientific capabilities of Selvita: "We were impressed of the very high-level scientific know-how of Selvita. I am sure that the collaboration between our two companies on SEL24 will be extremely important for cancer patients."