Allarity Therapeutics and Oncoheroes Biosciences have entered into a licensing agreement to develop Allarity's dovitinib and stenoparib drugs aimed at treating pediatric cancer patients. Oncoheroes will be granted exclusive worldwide rights, offering Allarity an undisclosed upfront licensing fee and regulatory milestone payment. The deal will allow Allarity to focus on treatments for adult cancers. 

Under the agreement, Oncoheroes will carry out clinical trials to evaluate the two drugs in treating pediatric cancers while Allarity will supply the drugs at cost. Allarity will also support the development of companion diagnostic tests to screen pediatric patients for treatment eligibility.

If the drugs are commercialized, Allarity will have the option to buy back the pediatric rights or receive further milestone and royalty payments by foregoing the option.

Allarity Therapeutics, Inc. is a precision oncology treatment and companion diagnostic developer. It currently has three primary drug candidates in late-stage clinical trials, including stenoparib for treating ovarian cancer; dovitinib, which was submitted for New Drug Application review by the FDA for the treatment of renal cell carcinoma; and ixabepilone for treatment of metastatic breast cancer. Additionally, the company’s secondary pipeline consists of two treatments for metastatic breast cancer.