Rakovina Therapeutics signs LOI for JV with NanoPalm

Executive Summary

• Rakovina Therapeutics and NanoPalm Ltd. have signed a non-binding Letter of Intent (LOI) to form a joint venture focused on co-developing novel small-molecule oncology therapeutics.
• The initial focus of the JV is to combine Rakovina’s AI-discovered PARP-HDAC inhibitor, kt-3283, with NanoPalm’s proprietary patterned lipid nanoparticle (pLNP) delivery technology.
• The joint venture will be domiciled in Saudi Arabia, with global development and commercialization rights, aiming to advance kt-3283 through late preclinical and early clinical stages.

Key Details

• Transaction Structure: Non-binding Letter of Intent (LOI) signed to establish a joint venture.
• Parties Involved: Rakovina Therapeutics Inc. (Canadian biopharma) and NanoPalm Ltd. (Saudi-based biotech).
• Primary Asset: Rakovina’s dual-function PARP-HDAC inhibitor, kt-3283.
  • Preclinical data shows kt-3283 induces DNA damage, disrupts cell-cycle progression, and enhances cytotoxicity compared to approved inhibitors.
  • Strong activity observed in Ewing sarcoma, breast, and ovarian cancer models.
• Technology Integration:
  • Rakovina: Contributes AI-enabled drug discovery engine (Deep Docking platform), kt-3283 drug substance, additional AI-discovered candidates, and in vitro/in vivo validation data.
  • NanoPalm: Contributes proprietary pLNP delivery system (AI-designed for tissue specificity and intracellular delivery), biomanufacturing capabilities, and preclinical/clinical infrastructure in Saudi Arabia.
• Operational Plan:
  • Initial preclinical validation to be conducted at Rakovina’s facilities (University of British Columbia).
  • Manufacturing and biodistribution studies to be conducted by NanoPalm in Saudi Arabia.
  • Future plans include exploring global licensing and strategic commercialization opportunities.
• Governance and IP:
  • Partners will co-finance the JV, pursue third-party investment, and share ownership, risk, and upside equally.
  • Intellectual property arising from collaboration will be jointly owned; background IP remains with respective inventors but is non-exclusively licensed to the JV.
  • Exclusivity applies to programs combining Rakovina’s compounds with NanoPalm’s delivery technology in oncology and other agreed indications.
• Regulatory Alignment: Development activities will align with FDA, SFDA (Saudi Food and Drug Authority), and EMA standards.

Notable Quotes

• Jeffrey Bacha, Executive Chairman, Rakovina Therapeutics: "kt-3283 represents the first of what we believe could be multiple novel therapeutics that emerge from this alliance, offering a robust pipeline for development and future commercialization."
• Dr. Ali Alhasan, Founder and CEO, NanoPalm: "Our platform is uniquely suited to improve the delivery profile of small-molecule therapies, and the synergy with Rakovina's innovative discovery capabilities creates an opportunity for the potential joint venture to pursue worldwide development and commercialization opportunities within Saudi Arabia as its operational hub to develop transformative treatments for patients with cancer."