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ESSA Pharma Inc (NASDAQ:EPIX)., a pharmaceutical company specializing in the development of drugs to treat prostate cancer, has terminated a material definitive agreement with its licensing partners. The Vancouver-based company announced on Monday that it had ended its relationship with the British Columbia Cancer Agency and the University of British Columbia, effectively discontinuing the license granted for key intellectual property.
The original license agreement, established on December 22, 2010, and subsequently amended several times, provided ESSA Pharma with exclusive worldwide rights to develop and commercialize products based on patents and know-how concerning compounds that influence androgen receptor activity, a target for prostate cancer treatment.
According to the 8-K filing with the Securities and Exchange Commission, the termination took effect on Thursday, December 12, 2024. The company has not disclosed the reasons for the termination or any details about the implications for its product pipeline.
The termination concludes a 14-year collaboration that has been foundational to ESSA Pharma's research and development efforts.
The news above is based on an SEC filing.
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