Jubilant Life Sciences provides update on subsidiary

Jubilant Biosys signs license agreement with Checkpoint Therapeutics

Jubilant Biosys, a subsidiary of Jubilant Life Sciences and Checkpoint Therapeutics, Inc. (Checkpoint), a subsidiary of Fortress Biotech, Inc. announced the signing of an exclusive, worldwide license agreement under which Jubilant Biosys will out-license to Checkpoint a family of patents covering compounds that inhibit BRD4, a member of the BET (Bromodomain and Extra Terminal) domain for cancer treatment.

The deal includes an upfront payment of US $2 million and contingent preclinical, clinical and regulatory payments including commercial milestones totalling up to US $180 million. Jubilant Biosys will also receive research funding and royalty payments on successful commercialization of the compounds. Checkpoint will assume all further preclinical, clinical development and commercialization responsibilities.

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