Hoola Therapeutics to Acquire Zilovertamab and ONCT-808 Programs from Oncternal Therapeutics
In a significant move, Ho'ola Therapeutics, Inc. has purchased the zilovertamab and ONCT-808 programs from Oncternal Therapeutics, Inc., marking a new chapter for both companies. The deal, finalised on June 27, 2025, includes an initial payment of $3 million, with the potential for additional milestone payments totalling up to $65 million.
Zilovertamab is an investigational monoclonal antibody designed to inhibit the function of Receptor Tyrosine Kinase-Like Orphan Receptor 1 (ROR1), while ONCT-808 is an investigational autologous chimeric antigen receptor T (CAR T) cell therapy that targets ROR1 using the binding domain from zilovertamab.
The milestone payments, contingent on successful progress in major global markets such as the United States, United Kingdom, Germany, Spain, France, Italy, and Japan, could reach up to $5 million for development milestones, $40 million for regulatory approvals, and $20 million tied to hitting net sales thresholds.
Craig Jalbert, a principal of the accounting firm Verdolino & Lowey, P.C., has been appointed as President, CEO, Treasurer, Secretary, and sole member of Oncternal's board of directors. His extensive experience of over 30 years in overseeing the dissolution of companies will be instrumental in winding down Oncternal's operations, including the distribution of remaining cash and future rights to any milestone-based payments.
The acquisition of Oncternal's programs by Ho'ola Therapeutics signifies a broad global ambition for the commercialization of zilovertamab and ONCT-808, with potential markets spanning major pharmaceutical markets across North America, Europe, and Asia. The development and regulatory approval milestones for the acquired programs are based on clinical trials and/or regulatory approvals in these territories.
[1] Source: Ho'ola Therapeutics press release, June 28, 2025. [2] Source: Oncternal Therapeutics press release, June 28, 2025. [3] Source: BusinessWire, June 28, 2025. [4] Source: FierceBiotech, June 28, 2025.
In the realm of finance, the acquisition of Oncternal Therapeutics' zilovertamab and ONCT-808 programs by Ho'ola Therapeutics marks a significant business move with potential milestone payments worth up to $65 million in the global pharmaceutical industry. Craig Jalbert, with his extensive experience, will oversee the winding down of Oncternal's operations and distribution of future rights to milestone-based payments.
