It has sold the portion of the royalty interest in Rubraca® to investor in the life sciences sector, Sagard Healthcare Royalty Partners, for $31 million.
Over 20 years, a multi-disciplinary team at Newcastle University, through a research collaboration with Cancer Research UK’s Cancer Research Technology Limited, discovered and developed Rubraca®, the first-in-class PARP inhibitor rucaparib (Rubraca) for ovarian cancer.
The drug offers a lifeline to women with advanced ovarian cancer, who have received two or more prior chemotherapies and whose tumours have a BRCA gene mutation.
The life-extending drug has been licensed by the European Medicines Agency and approved for ovarian cancer patients with a faulty BRCA gene.
The proceeds will be used by the University to support ongoing development of teaching and learning facilities for students across the Faculties and to facilitate research.
To read the full article please visit the Newcastle University website