Aptose Biosciences enters US$10M facility agreement with Hanmi Pharmaceutical

On August 30, 2024, Aptose Biosciences Inc. (“Aptose”) announced that it received a US$10 million loan through a Facility Agreement with Hanmi Pharmaceutical Co. Ltd. (“Hanmi”). The loan is convertible as prepayment of milestone obligations under a future collaboration agreement between the parties or repayable following the expected completion of a triple drug combination clinical trial involving tuspetinib in newly diagnosed acute myeloid leukemia patients. Aptose intends to use the proceeds for the continued development of tuspetinib.

In connection with the Facility Agreement, Aptose and Hanmi agreed to negotiate a potential co-development collaboration agreement for tuspetinib, which is intended to provide additional funding to support the clinical development of the compound. Aptose originally licensed tuspetinib from Hanmi in November 2021.

Aptose, headquartered in Toronto, Ontario and San Diego, California, is a North American clinical-stage biotechnology company focused on developing oncology therapies, with an initial focus on hematology.

Hanmi Pharmaceutical, headquartered in Seoul, South Korea, is a global biopharmaceutical company specializing in oncology, diabetes, obesity, and metabolic diseases.

McCarthy Tétrault LLP advised Aptose with a team led by Charles-Antoine Soulière and Farhiyah Shariff that included Jamey Gage (Bankruptcy & Restructuring), Isabelle Chouinard, and Asma Boudoukha (Business Law).