By Stephen Nakrosis

Surface Oncology Inc. (SURF) on Monday said Novartis chose to not purchase an option for SRF388, an anti-IL-27 targeted agent, meaning full worldwide rights for the antibody will be retained by Surface.

Interleukin-27, or IL-27, "is understood to play an important role in turning off an immune response following viral and parasitic infections. Beyond the role of IL-27 in restoring immunostasis, Surface Oncology believes it has identified several cancers where IL-27 may prevent the immune system from recognizing and killing cancer cells," the company said earlier this year.

The company's Chief Executive Jeff Goater said Surface is planning to file an Investigational New Drug submission for SRF388 with the U.S. Food and Drug Administration later this year.

"SRF388 is an ideal program for Surface Oncology. We have conducted significant preclinical and translational work to understand IL-27's role in specific tumor types and have a focused translational strategy as we advance this program into clinical development," Mr. Goater said.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 04, 2019 17:47 ET (22:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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