CEP-32496 Development

CEP-32496 is a small molecule drug candidate that inhibits the BRAF kinase, discovered by us, that is now being developed by Teva Pharmaceutical Industries Ltd.

The BRAF gene is a key component of a pathway involved in normal cell growth and survival. The mutations of the BRAF gene are believed to be drivers of disease, including forms of melanoma, thyroid, colon, ovarian, and lung cancers, and can lead to uncontrolled cell growth and disease progression.

CEP-32496 has been shown to be potent and sustains anti-tumor activity in models of melanoma and colon carcinoma. CEP-32496 possesses attractive pharmacokinetic properties upon oral administration and compares favorably with respect to other BRAF kinase inhibitors. Teva submitted an IND for CEP-32496 in oncology in the second quarter of 2012 and has full responsibility for the worldwide development and commercialization of CEP-32496. We are entitled to receive development, regulatory and commercialization milestones and sales-based royalty payments.