TMS Co.,Ltd. has signed a term sheet with Germany's TME Pharma A.G. for exclusive negotiations concerning the worldwide development rights to NOX-A12, a brain tumor treatment, and plans to establish a new company in Japan and pursue a definitive agreement after securing funding. The consideration for the exclusive negotiation rights is expected to be up to €300,000.
TMS Co.,Ltd. has signed a term sheet with Germany's TME Pharma A.G. for exclusive negotiations aimed at obtaining the worldwide development rights to NOX-A12 for brain tumors. TMS plans to establish a new company in Japan and pursue a definitive agreement covering global development, manufacturing and commercialization rights once a certain amount of funding has been secured. The consideration is expected to be up to €300,000, and the impact on earnings for the current fiscal year is considered minor.
In addition to binding provisions on exclusive negotiations, the term sheet includes non-binding provisions, including the conduct of a new cohort in the Phase I/II GLORIA clinical trial for newly diagnosed glioblastoma. It also provides for the execution of a definitive agreement once the new company established in Japan has secured a certain amount of funding, and for TME Pharma to participate as a minority shareholder in the new company.
NOX-A12 is being clinically developed in Germany for glioblastoma. By specifically inhibiting CXCL12, it suppresses vascular remodeling around the tumor. In the GLORIA trial's Expansion Cohort, overall survival was 19.9 months in 6 patients receiving radiotherapy and bevacizumab, significantly exceeding the 9.5 months observed in the historical control, and the results were published in Nature Communications in April 2026. The product has received orphan designations in the US and Europe and Fast Track designation in the US.
The development plan going forward calls for a new GLORIA cohort consisting of a 100-patient open-label trial, with 5 arms of 20 patients each. The trial is initially scheduled to begin at 6 sites in Germany. Conduct in the US, where IND approval has already been obtained, and in Japan is also under consideration, although the plan may change depending on the non-binding nature of these provisions in the term sheet and the status of funding.