Dublin, Ireland, August 21 2023
Inflection Biosciences (Inflection), a company developing innovative therapeutics for the treatment of cancer, autoimmune and inflammatory diseases today announced that it has entered into a license agreement for its selective PIM kinase inhibitor program with new start-up Mysthera Therapeutics AG (Mysthera), a Swiss-based biotech, developing first-in-class, oral therapeutics to treat autoimmune diseases.
The agreement provides Mysthera with exclusive worldwide rights to develop, manufacture and commercialise these inhibitors (known as the IBL-100s) with Inflection receiving an upfront payment, contingent milestone payments and royalties on future sales. Inflection has also acquired a minority shareholding in Mysthera. In conjunction with the licensing agreement, Darren Cunningham has stepped down from his role as CEO at Inflection and has joined Mysthera as co-founder and CEO.
Inflection had announced last year the expansion of its research focus with the IBL-100s program to include autoimmune and inflammatory disease. The expanded focus leveraged the company’s expertise in PIM kinase biology and the further evidence now available that PIM kinase plays a role not only in cancer but also in key autoimmune and inflammatory processes through regulation of B and T cell function.
Dr. Michael O’Neill, co-founder and Director, Inflection Biosciences commented, “We are pleased to license this innovative program to Mysthera Therapeutics. Mysthera brings considerable expertise in PIM kinase inhibition and immunology and along with their drug development capabilities will ensure that this program is successfully developed for the benefit of autoimmune disease patients globally.”
Dr. O’Neill added, “We congratulate Darren Cunningham on taking up the role of CEO at Mysthera where his knowledge of the PIM kinase space makes him the ideal person to oversee the development of these compounds. We are grateful for the skill and dedication he applied to his role as co-founder and CEO at Inflection Biosciences where he delivered two valuable global licensing transactions for the
company.”
About Inflection Biosciences
Inflection Biosciences Ltd is developing small molecule therapeutics for the treatment of cancer, autoimmune and inflammatory diseases. IBL-100s, partnered with Mysthera Therapeutics, is a pan-PIM kinase inhibitor program in preclinical development for the treatment of autoimmune diseases. AUM302, partnered with AUM Biosciences, is a first-in-class PIM/PI3K/mTOR inhibitor in development for the treatment of cancer. IBL-202 is a first-in-class, dual PIM kinase and PI3K inhibitor in development for aggressive B-cell malignancies, T-cell lymphoma and acute myeloid leukemia. For more information, please visit www.inflectionbio.com
About Mysthera Therapeutics
Mysthera Therapeutics AG was founded in Basel, Switzerland by Forty51 Ventures in 2023. Pursuing a first-in-class therapeutic approach, Mysthera plans to reshape the treatment landscape for autoimmune disease. PIM kinase inhibition uniquely and selectively modulates immune cell function in multiple lineages associated with complex disease. The company’s pipeline includes pre-clinical stage, PIM kinase inhibitors in-licensed from Inflection Biosciences Ltd. For more information, please visit www.mystheratx.com