Date: 2016-01-04
Type of information: R&D agreement
Compound: therapeutics against six checkpoint targets
Company: Baxalta (USA - IL) Symphogen (Denmark)
Therapeutic area: Cancer - Oncology
Type agreement: R&D collaboration
Action mechanism:
Disease:
Details: * On January 4, 2016, Baxalta and Symphogen announced a broad strategic immuno-oncology collaboration. Under the terms of the agreement, Baxalta and Symphogen will advance novel therapeutics against six checkpoint targets, with the first program to enter clinical studies in 2017. On a product-by-product basis, following successful completion of Phase 1 clinical trials, Baxalta will have exclusive option rights to complete late-stage development and worldwide commercialization.
Financial terms: Symphogen will receive an upfront payment of $175 million (€160 million) from Baxalta in exchange for the exclusive option rights for six checkpoint therapies. Symphogen will be responsible for performing R&D through Phase 1 clinical trials at its own expense. The agreement holds a total potential value up to €1.4 billion ($1.6 billion) in option fees and milestones over the long-term, in addition to royalties on worldwide sales. Additional terms, including therapeutic targets, were not disclosed.
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