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Rafael Pharma Signs License Agreement with Ono Pharmaceutical

Aims to accelerate development and commercialization of cancer drug candidate CPI-613 (devimistat) in Japan and other Asian countries

Rafael Pharmaceuticals, Inc.has entered into an out-licensing agreement with Ono Pharmaceutical Co., Ltd.for the development and commercialization of CPI-613 (devimistat), Rafael’s first-in-class clinical lead compound, which targets cancer metabolism enzymes, as well as its other related compounds.    Rafael will receive a one-time upfront payment of approximately $12.9 million and up to an additional approximately $150.3 million if certain development and commercial milestones are achieved. ...

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