Under the agreement, CTT will work with Bayer to optimise a new PET imaging agent based on its inhibitor scaffold that recognizes a validated cancer enzyme biomarker.
CTT will enhance the chemistry associated with its demonstrated tumor homing scaffold and Bayer will optimize the radio-labeling efforts needed to advance a lead to clinical development.
Under the terms of the agreement, CTT will receive R&D funding and, if the option is exercised, could receive payments on the achievement of development milestones, as well as royalties on sales of products resulting from the collaboration.
CTT CEO Beatrice Langton-Webster said the company has focused its initial endeavors on their enzyme inhibitors as ideal delivery agents for diagnostic and therapeutic use in cancer.
