Nuvation Bio Inc. (NYSE: NUVB) shares began Monday sharply lower. The New York-based global oncology company focused on tackling some of the toughest challenges in cancer treatment, has joined with Tokyo-based Eisai Co., Ltd., a human-centered global leading research-based pharmaceutical company working in the neurology and oncology therapeutic areas.
The two parties announced an exclusive license and collaboration agreement that significantly expands the long-term global footprint of taletrectinib (marketed as IBTROZI® in the U.S. and Japan).
Taletrectinib is a highly selective, next-generation oral treatment currently approved for patients living with advanced ROS1-positive (ROS1+) non-small cell lung cancer (NSCLC) in the U.S., China and Japan.
Eisai will now have exclusive development, registration and commercialization rights for taletrectinib for the treatment of ROS1+ NSCLC in Europe, the Middle East, North Africa, Russia, Turkey, Canada, Australia, New Zealand, Singapore, the Philippines, Indonesia, Thailand, Malaysia, Vietnam and India. Nuvation Bio will continue to lead global development and retain full U.S. commercial rights, maintaining its strong focus on U.S. launch activities and ongoing pivotal studies of taletrectinib across early- and late-stage ROS1+ NSCLC.
Under the terms of the exclusive license and collaboration agreement, Nuvation Bio will receive €50million (approx. USD $60 million) upfront and up to €145 million(approx. USD $170 million) in regulatory and commercial milestone payments, as well as double-digit tiered royalties up to the high-teensas a percentage of future net sales in the licensed territories.
NUVB shares gave back 80 cents, or 10%, to $7.24.
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