Unum Therapeutics Inc. (UMRX) recently finalized sale of its BOXR cell therapy platform and BOXR lead programs for the treatment of solid tumors to SOTIO.
Unum is a biopharmaceutical company involved in development of novel, best-in-class precision kinase inhibitors. The company develops that technology aiming providing therapies to patients suffering from different types of cancers and for other medical requirements still needed to be met. On the other end is PPF Group owned SOTIO, which is an immuno-oncology company that treats the diseases at the clinical level.
As per agreement signed, SOTIO will immediately pay an amount of $8.1 million to Unum for its BOXR technology. This will gave the company an access to development of BOXR1030, Unum’s lead candidate which is likely to be entering clinics soon.
Moreover, Unum will also become eligible to get an amount of up to $3.4 million on achieving certain milestones. Unum is intending carrying on its strategy of developing the next generation of potent immune therapies for cancer patients. And selling BOXR to SOTIO will help it achieve that goal. The antibody coupled T cell receptor (ACTR) technology of Unum will remain with the company. With that Unum will continue exploring strategic opportunities as well as new assets. The agreement stood final on August 28, 2020.
SOTIO will now be responsible to further advance the BOXR programs. It will share portion of Unum’s facilities in Cambridge, MA to assume that responsibility. Certain Unum employees working on the BOXR programs will be shifted to SOTIO to remain working on those programs.
Unum will also keep some space as well as certain staff in Cambridge facilities to redeploy them to develop small molecule precision kinase inhibitors. Those also include PLX9486, company’s leading program to develop the same for treatment of a range of genetically driven diseases. Unum will reinvest the net proceeds from the sale of BOXR to that program.