EQS-Adhoc

Kuros to receive $4 million milestone payment from Checkmate Pharmaceuticals

EQS Group-Ad-hoc: Kuros Biosciences AG / Key word(s): Miscellaneous Kuros to receive $4 million milestone payment from Checkmate Pharmaceuticals 17-May-2021 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR The issuer is solely responsible for the content of this announcement. *    Milestone triggered by Checkmate's initiation of potential registration trial of vidutolimod (CMP-001) in      patients with anti-PD-1 refractory advanced melanoma *    Kuros stands to receive up to $49 million additional milestones plus royalties on sales

Schlieren (Zurich), Switzerland, May 17, 2021 - Kuros Biosciences ('Kuros'), a leader in next generation bone graft technologies, today announced it will receive a milestone payment of $4 million from Checkmate Pharmaceuticals, Inc. related to dosing of the first patient in a Phase 2 trial of vidutolimod (CMP-001) in combination with nivolumab for the treatment of patients with anti-PD-1 refractory advanced melanoma, under a license agreement between the companies. Checkmate recently initiated a Phase 2 trial evaluating vidutolimod in combination with nivolumab in patients with first-line metastatic or unresectable melanoma. Together, the data from these trials are intended to support a biologics license application seeking accelerated ap-proval in the U.S. for the treatment of patients with anti-PD-1 refractory advanced melanoma. 

Checkmate is investigating vidutolimod, a Toll-like receptor 9 agonist, across multiple tumor types in combination with checkpoint inhibitor immunotherapies. Vidutolimod was licensed from Kuros Biosciences in 2015. Following receipt of this $4 million milestone Kuros will have received $8.25 million from Checkmate under the license agreement and is eligible to receive up to a fur-ther $49 million in filing and approval milestones. In addition, Kuros is due to receive high-single-digit to double-digit royalties on net sales of vidutolimod.