August 19, 2022
Shanghai Everest Medicines has returned the rights for Trodelvy (sacituzumab govitecan) to Immunomedics, a subsidiary of Gilead Sciences, in an agreement worth up to $455 million.
In 2009, Everest acquired rights to the Trop-2 antibody-drug conjugate (ADC) candidate in an $835 million deal ($65 million upfront). Two months ago, Everest was approved to launch Trodelvy in China as a third-line therapy for metastatic triple-negative breast cancer (TNBC).
Everest will receive $280 million in upfront payments and up to $175 million in future milestones. The company will be released from paying $710 million in remaining milestones under the Immunomedics deal, indicating Everest has paid $155 million to Immunomedics/Gilead to date.
Image: DepositPhotos/
OtnaYdur
In a statement, Everest said the transaction will streamline the company’s development pipeline, allowing Everest the chance to focus on advancing other candidates with first-in-class or best-in-class potential. The company will also have a stronger balance sheet for internal drug discovery and strategic transactions.
Immunomedics will take over rights to develop and commercialize Trodelvy in Greater China, South Korea, Singapore, Indonesia, Philippines, Vietnam, Thailand, Malaysia and Mongolia.
So far, Everest has been approved to launch Trodelvy in mainland China and Singapore. The company has also filed for commercial approval of Trodelvy in South Korea, Taiwan and Hong Kong.
“We welcome the opportunity to restructure our partnership with Gilead, which has been built on a shared vision of providing innovative oncology solutions for patients in need. With capital resources and a track record of successful therapeutic development and commercialization for Trodelvy in the United States, Gilead is an ideal partner to further develop and commercialize Trodelvy in Asia Pacific regions to maximize patient access,” said Kerry Blanchard, CEO of Everest Medicines.
“Trodelvy is approved for second-line metastatic TNBC in over 35 countries. We thank Everest Medicines for their partnership and important contributions in the development of Trodelvy in Asia. Their collaboration has brought us closer to bringing Trodelvy to patients who need alternative options,” said Bill Grossman, SVP of Oncology Clinical Research, Gilead Sciences. “Trodelvy is the cornerstone of our solid tumor portfolio, and we are committed to bringing this transformative therapy to as many patients as possible.”
Everest’s portfolio contains eleven molecules with potential to be global first-in-class or best-in-class drugs, many of them in late-stage clinical development. The candidates are aimed at needs in oncology, autoimmune disorders, cardio-renal diseases and infectious disease indications.
A version of this article was first published in ChinaBioToday on August 16, 2022
You May Also Like
