Kuros to receive $4 million milestone payment from Checkmate Pharmaceuticals

•    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

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. 

Joost de Bruijn, Chief Executive Officer of Kuros, commented: “We are very pleased that our partner Checkmate has rapidly advanced vidutolimod into a pivotal study intended for marketing approval. We congratulate Checkmate on this strong progress and look forward to vidutolimod achieving approval for the treatment of melanoma and other cancers in multiple markets.”

For further information on vidutolimod development please refer to checkmatepharma.com.

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