– PRIDCor Therapeutics Granted Global Development and Commercialization License for IMC-1 and IMC-2 Assets for All Indications, including Fibromyalgia and Long-COVID –
– Dogwood Granted a Tiered Royalty up to 15% on Net Sales –
– Dogwood Entitled to a Percentage of Future Development and Regulatory Milestones, as well as 9% of Future Capital Raised by PRIDCor to Advance Development of IMC-1 and IMC-2 –
ALPHARETTA, Ga., April 23, 2026 (GLOBE NEWSWIRE) — Dogwood Therapeutics, Inc. (NASDAQ: DWTX) (“Dogwood” or the “Company”), a company that focuses on developing new medicines to treat pain and neuropathy, today announced a global development and commercialization partnership with PRIDCor Therapeutics, LLC (“PRIDCor”), a clinical-stage biopharmaceutical company developing antiviral therapies for infection-associated chronic illnesses including Long-COVID, for Dogwood’s anti-viral candidates, IMC-1 and IMC-2. The agreement includes potential payments of up to $100 million to Dogwood and its current and former shareholders.
Dogwood Therapeutics previously announced its intention to explore partnership opportunities to advance its combination antiviral drug candidates and shift its primary focus to advancing its NaV 1.7 inhibitor, Halneuron®, to treat both chronic and acute pain conditions. Dogwood subsequentially in-licensed SP16, administered via intravenous formulation, as a complement to its lead asset Halneuron®, further deepening the Company’s focus on developing new treatments for chemotherapy induced pain and neuropathy.
Consistent with its prior announcement, Dogwood has entered into an agreement with PRIDCor pursuant to which PRIDCor will be fully responsible for financing and executing future development, commercialization and intellectual property maintenance for both IMC-1 and IMC-2. In exchange, Dogwood is entitled to a tiered royalty on net sales of up to 15% upon commercialization of IMC-1 or IMC-2. Further, Dogwood is entitled to 9% of all future capital raised by PRIDCor to advance IMC-1 or IMC-2, as well as future PRIDCor partnership-related development and regulatory payments associated with IMC-1 or IMC-2. Potential payments to Dogwood under the development partnership are capped at $100 million.
“This unique IMC-1 and IMC-2 development and commercialization partnership enables the development of these two novel assets with potential to create significant value to Dogwood and its shareholders in two ways,” commented Greg Duncan, Chairman and Chief Executive Officer of Dogwood. “Future monetary consideration associated with this agreement can reduce future corporate research and operational capital requirements, while at the same time maximizing our internal focus on developing Halneuron® and SP16 to their full potential.”
To the extent that any payment to Dogwood resulting from the development partnership constitutes either an “Upfront Payment” or a “Milestone Payment” under the terms and conditions applicable to the contingent value rights (“CVRs”) issued by Dogwood on October 17, 2024, Dogwood will cause any required amounts to be delivered to the rights agent for further payment to holders of the CVRs.
About Dogwood Therapeutics:
Dogwood Therapeutics (Nasdaq: DWTX) is a development-stage biopharmaceutical company focused on developing new medicines to treat pain and neuropathic disorders. The Dogwood research pipeline includes two first-in-class development candidates, Halneuron® and SP16 IV.
Our lead product candidate, Halneuron®, is in Phase 2b development to treat pain conditions including the neuropathic pain associated with chemotherapy treatment. Halneuron® has been granted fast track designation from the FDA for the treatment of CINP. Halneuron® is a non-opioid, NaV 1.7 analgesic which is a highly specific voltage-gated sodium channel modulator, a mechanism known to be effective for reducing pain transmission. In clinical studies, Halneuron® treatment has demonstrated pain reduction in pain related to general cancer and in pain related to chronic chemotherapy-induced neuropathic pain (“CINP”). SP16 IV is a low-density lipoprotein receptor related protein-1 agonist (LRP1) with potential to treat neuropathy and prevent or repair nerve damage following chemotherapy. SP16 acts as an LRP1 agonist that in turn provides alpha-1-antitrypsin-like activity. Consistent with alpha-1-antitrypsin anti-inflammatory and immunomodulatory actions, SP16 preclinically demonstrated anti-inflammatory (analgesic) action via potential reductions in IL-6, IL-8, IL1B and TNF-alpha levels, as well as potential to repair damaged tissue via increases in pAKT and pERK that regulate fundamental processes like growth, proliferation and survival. The forthcoming SP16 IV Phase 1b chemotherapy-induced pain and peripheral neuropathy trial is fully funded by the National Cancer Institute.
Dogwood Therapeutic’s largest shareholder is a member of CK Life Sciences Int’l., (Holdings) Inc., which is listed on the Hong Kong Stock Exchange (Stock code: 0775). For more information, please visit www.dwtx.com.
Forward-Looking Statements:
Statements in this press release contain “forward-looking statements,” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Dogwood’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the completion, timing and results of current and future clinical studies relating to Dogwood’s product candidates, as well as PRIDCor’s ability to successfully develop IMC-1 or IMC-2. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the most recently filed Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Dogwood undertakes no duty to update such information except as required under applicable law.
Investor Relations:
Dan Ferry
Managing Director
LifeSci Advisors, LLC
[email protected]
