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Rexahn Pharmaceuticals (NYSE:RNN) has terminated its Research and Exclusive License Option (RELO) Agreement for RX-3117 with Teva Pharmaceutical Industries (NYSE:TEVA).

Rexahn Pharmaceuticals (NYSE:RNN) has terminated its Research and Exclusive License Option (RELO) Agreement for RX-3117 with Teva Pharmaceutical Industries (NYSE:TEVA). RX-3117 is a DNA and RNA synthesis inhibitor for the treatment of solid cancer tumors.

As quoted in the press release:

“RX-3117 appears to have potential in various indications, but does not align with Teva’s new Oncology strategy,” [according to Teva].

Rexahn will continue to advance the clinical development of RX-3117 and expects to finalize the timeline for initiating a Phase I clinical study in cancer patients within the next three months.

 

Click here for the full press release by Rexahn Pharmaceuticals (NYSE:RNN)

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