Race Oncology is pleased to announce that it has executed a consulting agreement with Professor Borje Andersson from the M.D. Anderson Cancer Research Center in Houston, Texas.
Under the initial 12-month agreement, Professor Andersson will be engaged to:
- Advise Race Oncology on clinical protocols for its planned Bisantrene AML trials.
- Advise Race Oncology on new product development strategies and acquisitions.
- Assist Race Oncology with access/introductions to AML clinical trial groups at MD Anderson (MDA) and support MDA’s participation in Race’s clinical trials or investigator initiated clinical studies on Bisantrene.
- Assist Race Oncology with introductions to international and US opinion leaders and investigators internationally who could participate in Race Oncology’s early access program (NPP) for Bisantrene.
- Advise Race Oncology on in vitro studies to better characterise Bisantrene’s immune stimulating properties or other aspects of its mode of action.
“I found that Race Oncology’s research strategy for developing new therapies for both paediatric and adult AML are a perfect complement to my own long-standing research interests,” said Professor Andersson.
“Therefore, it is with great excitement and the highest level of enthusiasm that I look forward to working with the team at Race Oncology.”
“We are truly fortunate to have a global AML leader of the stature of Professor Andersson on the Race team,” said Race CEO, Peter Molloy.
“We look forward to working with him on a range of value-adding programs for Bisantrene.”
Prof. Andersson will receive compensation in the form of 420,000 RAC share options.
The options will be granted on the commencement date of the agreement (21 January 2019) and expire five years from that date.
The options vest monthly (35,000 options per month) over the 12-month period of the agreement.
The exercise price of the options will be 1.25 times the 5-day VWAP of the RAC share price prior to the commencement date of the agreement.
About Professor Borje Andersson
Borje S. Andersson is Professor, Department of Stem Cell Transplantation in the Division of Cancer Medicine at University of Texas MD Anderson Cancer Center in Houston, Texas and Director of the Department’s program for Molecular Pharmacology and Translational Drug Development. He is also Adjunct Professor, University of Houston College of Pharmacy in Houston. He received his medical degree from Karolinska Institute Faculty of Medicine and is board-certified in medical oncology, internal medicine and haematology. He has been an active researcher in the leukaemia field and his recent research has focused on the development of less toxic and more efficacious pre-transplant conditioning therapies, and improving the understanding of leukaemic cell resistance to bifunctional DNA-alkylating agents.