07:17 AM EDT, 05/22/2024 (MT Newswires) -- G1 Therapeutics ( GTHX ) and Jupiter Bioventures' Deimos Biosciences said Wednesday they have entered a global licensing agreement for lerociclib to treat radiation exposure.

Lerociclib is a selective inhibitor of cyclin-dependent kinases 4 and 6, which can increase the survival of animals exposed to radiation, the companies said.

The deal grants Deimos Biosciences the exclusive rights to develop, manufacture, and commercialize lerociclib for specific radioprotective indications globally including Japan but excluding the rest of the Asia-Pacific region, where it is already licensed to Genor Biopharma.

G1 is to receive a 10% equity stake of in Deimos Biosciences and 20% royalties on net sales of lerociclib.

Shares of G1 were up more than 3.5% in Wednesday's premarket activity.

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