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Cortice Biosciences, Inc.

Drug Names(s): ARC 100, TPI 287

Description: TPI 287 is a third generation taxane. TPI 287 is a proprietary taxane designed by Tapestry to overcome the resistance that may develop in patients refractory to currently available taxanes.

In preclinical testing TPI 287 demonstrated the ability to inhibit tumor cell growth in a number of in vitro cell lines and has shown inhibition of tumors in certain animal xenograft models when tested against standard comparative agents. The in vitro activity was seen across multiple cell lines including cell lines known to be sensative to taxanes and cell lines known to be resistant to taxanes.

Deal Structure: On April 2, 2008, Tapestry Pharmaceuticals entered into an Exclusive License Agreement for TPI 287 with Archer Biosciences.

Under the Agreement, Tapestry licensed to Archer all intellectual property rights as well as the right to make, have made, use, import, export, offer for sale, distribute and market TPI 287 either themselves or through one or more sublicensees in North America and Japan. Archer made an upfront payment to Tapestry and will take over all financial responsibilities with respect to the development and marketing of TPI 287 in North America and Japan.

Tapestry is eligible to receive certain signing and development milestones depending on the location, use and formulation of TPI 287 that, in the aggregate, will not exceed $23 million. In addition, Tapestry may receive single digit royalties and sales milestones based on net sales of TPI 287.

The Agreement may be terminated by either party for material breach after a specified notice and cure period and may be...See full deal structure in Biomedtracker

Partners: Tapestry Pharmaceuticals, Inc.

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