On January 29, 2020 PharmaMar (MSE:PHM) reported that it has received the upfront payment of $200 million from the agreement signed with Jazz Pharmaceuticals on 19 December 2019 (Press release, PharmaMar, JAN 29, 2020, View Source [SID1234553659]).
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This license agreement for the commercialization of lurbinectedin in the United State became effective with the expiration of the Hart-Scott-Rodino waiting period.
Under the terms of the agreement, PharmaMar is also eligible to receive, in the following months, potential regulatory milestone payments of up to $250 million upon the achievement of accelerated and/or full regulatory approval of lurbinectedin by FDA within certain timelines.
PharmaMar is also eligible to receive up to $550 million in potential commercial milestone payments, as well as incremental tiered royalties on future net sales of lurbinectedin ranging from the high teens up to 30%.
There is the potential for other regulatory milestones on FDA approval of other indications beyond relapsed small cell lung cancer.
About Lurbinectedin
Lurbinectedin (PM1183) is a synthetic compound currently under clinical investigation. It is a selective inhibitor of the oncogenic transcription programs on which many tumors are particularly dependent. Together with its effect on cancer cells, lurbinectedin inhibits oncogenic transcription in tumor-associated macrophages, downregulating the production of cytokines that are essential for the growth of the tumor. Transcriptional addiction is an acknowledged target in those diseases, many of them lacking other actionable targets.