Clavis Pharma, a Norwegian cancer drug development company, and Translational Therapeutics, a Mass.-based private biopharmaceutical company, have entered into a strategic licensing agreement regarding the development and commercialization of CP-4033, according to Fierce Biotech.

CP-4033 is a patented, Lipid Vector Technology (LVT) derivative of ribavirin currently in the preclinical stage of development. Translational Therapeutics will develop CP-4033 for use in the treatment of aggressive thyroid cancer and will evaluate the potential of CP-4033 for use in the treatment of other solid tumors.

Clavis Pharma's intellectual property (IP) surrounding CP-4033 is complementary to Translational Therapeutics' IP estate around the use of ribavirin analogues for the treatment of human cancers and its companion diagnostic and therapeutic response monitoring technologies. The combined patent estate provides a solid foundation upon which to base a targeted cancer drug development program, reports Fierce Biotech.

Translational Therapeutics will be responsible for future development of CP-4033. Clavis Pharma will receive a minority equity stake in Translational Therapeutics and potential future milestone and royalty payments. 

Further terms of the agreement were not disclosed.