Monopar Therapeutics Inc. (NASDAQ: MNPR) shares have experienced a remarkable rise, jumping 199.57% to $13.87 in response to a major corporate development. The spike in MNPR stock follows announcement of a significant licensing agreement with Alexion, AstraZeneca’s Rare Disease division.
Exclusive License for ALXN-1840
Monopar (MNPR) revealed that it has secured an exclusive worldwide license for ALXN-1840, a drug candidate developed for Wilson disease. Under the direction of Alexion, the medication met its primary aim and successfully finished a Phase 3 clinical trial.
Monopar will be solely in charge of the medication’s future worldwide development and marketing initiatives. This agreement signals a critical step for Monopar as it broadens its portfolio and takes on a promising treatment for a rare but severe disease.
CEO’s Long-Standing Involvement with Wilson Disease Research
The CEO and co-founder of Monopar, Chandler D. Robinson, MD, has a special connection to ALXN-1840. The basis for the creation of ALXN-1840 was established by his early studies on tetrathiomolybdate, the main ingredient in the medication, which were published in “Science”.
Robinson’s deep involvement with the Wilson disease community has been notable. In 2013, he delivered the keynote speech at the Wilson Disease Association’s Annual Conference, highlighting his contributions to advancing ALXN-1840 from a lab experiment to a viable treatment option.
Revival of the ALXN-1840 Program
Despite Alexion’s decision to halt the ALXN-1840 program in 2023 after reviewing Phase II mechanistic trials, Robinson’s connection to the Wilson disease community reignited interest in the drug. Patients, physicians, and key figures from the Wilson Disease Association approached MNPR, encouraging the company to pursue the drug’s rights.
Monopar’s choice to get the license was heavily influenced by the testimonies of clinical trial participants who claimed notable advantages from the medication.
Strategic Alliance with AstraZeneca and Alexion
As per the terms of the deal, Monopar will pay Alexion cash and shares up front, with further payments contingent on sales and regulatory milestones. This partnership not only strengthens MNPR’s position in the rare disease space but also aligns it with AstraZeneca’s radiopharma expertise, enhancing its growth potential in that field.
