CNS Pharmaceuticals Signs Deal For Promising Brain Cancer Treatment Abeotaxane

CNS Pharmaceuticals, Inc. is a biopharmaceutical firm focused on creating innovative treatments for primary and metastatic brain and central nervous system cancers. The Company has announced an exclusive licensing agreement with Cortice Biosciences, Inc. ("Cortice"). A live webcast presentation to discuss this transaction is scheduled for Tuesday, July 30, 2024, at 8:30 AM ET (details below). Additionally, CNS has unveiled its new corporate branding and website, cnspharma.com.

According to the Agreement, CNS Pharmaceuticals has secured an exclusive license and the intellectual property rights to TPI 287, a microtubule inhibitor that may effectively penetrate the blood-brain barrier, currently in development for glioblastoma (GBM). In return, CNS will provide Cortice with an upfront payment of 616,698 shares of its common stock, along with the potential for future milestone payments, either in cash or common stock, based on the success of the project.

CNS Pharmaceuticals aims to further the development of TPI 287 for oncological uses within the United States, Canada, Mexico, and Japan—regions included in the Agreement (the "Territory"). This initiative will encompass various efforts, including the prosecution and maintenance of intellectual property, preclinical and clinical development, as well as research, manufacturing, laboratory and clinical testing, regulatory filings, and marketing of TPI 287 within the Territory.

John Climaco, CEO of CNS Pharmaceuticals, mentioned, "For years, our team has searched for another drug candidate with the same high level of human data-supported therapeutic potential in GBM as Berubicin. The in-licensing of TPI 287 is a transformational step forward and we are prepared for the next stage to execute our vision of CNS Pharmaceuticals being the leading biopharma company developing drugs for this devastating and currently inescapably fatal disease."

Mr. Climaco also said, "Our vision is anchored by our confidence in and commitment to our trial of Berubicin in patients with recurrent GBM. The 252 patients enrolled in its potentially pivotal trial will provide significant data about overall survival compared with Lomustine, the outcome of which will be made public in the first half of next year. Our highly experienced team that created and is executing this trial - currently one of the largest GBM studies being conducted anywhere in the world - makes us uniquely positioned to meet the challenge presented by this disease.

He further added, “The clinical network we have established is unparalleled by any other company's GBM development program, and as a consequence, the TPI 287 program will require only limited capital resources prior to the release of Berubicin topline data. This will allow us to drive TPI 287 into potential registration studies in the most cost-effective manner possible. After negotiations spanning several years and following extensive scientific and clinical due diligence, we believe the highly compelling safety and efficacy data demonstrated by TPI 287 in over 350 patients to date makes it both the ideal complementary asset to Berubicin and the perfect next step in our Company's strategic plan. Our work on bringing TPI 287 to patients begins immediately.”