Aptose Biosciences has raised USD 10 million in debt funding from Hanmi Pharmaceutical. The loan, also known as the Future Collaboration Agreement, is convertible as a prepayment of milestone obligations under the collaboration agreement or is repayable after the conclusion of a triple-drug combination clinical trial for the company's lead candidate, tuspetinib.

The funds are planned to be directed toward advancing tuspetinib, Aptose’s oral kinase inhibitor drug in development for treating patients diagnosed with acute myeloid leukemia.

Aptose Biosciences focuses on developing precision oncology therapeutics with a primary focus on hematologic malignancies. The company's pipeline includes small-molecule cancer therapeutics designed to provide single-agent efficacy and enhance the efficacy of other anti-cancer therapies while minimizing toxicities. Its lead candidate tuspetinib (TUS) is an oral kinase inhibitor being developed for acute myeloid leukemia. Aptose is also developing luxeptinib, an oral dual lymphoid and myeloid kinase inhibitor in early-stage development for relapsed or refractory hematologic malignancies. 

Analyst Quick Take: In November 2021 , Aptose entered an exclusive global license agreement with Hanmi Pharmaceutical for the development and commercialization of tuspetinib, formerly known as HM43239. According to the agreement, Aptose was granted exclusive worldwide rights to HM43239 for all indications. Hanmi will receive an upfront payment of USD 12.5 million and up to USD 407.5 million in clinical, regulatory, and sales milestone payments as well as royalties on sales.