- Swedish Orphan Biovitrum ( OTCPK:BIOVF ) (Sobi) signed a licensing agreement to develop and commercialize ADC Therapeutics' ( NYSE: ADCT ) Zynlonta (loncastuximab tesirine) for all blood and solid tumor indications outside the U.S., Greater China, Singapore and Japan.
- The transaction aims to bolsters Sobi's presence in orphan diseases within hematology, according to the companies July 8 press release.
- Under the agreement — which provides right to the drug in Europe and most other international markets — Sobi will pay $55M upfront payment to Switzerland-based ADC, and $50M at EU regulatory approval in 3rd-line Diffuse large B-cell lymphoma (DLBCL). Sobi will also pay royalties from mid-teens to mid-twenties per cent of net sales and up to $330M in potential regulatory and sales milestones.
- In addition, as loncastuximab tesirine is in development for other uses, Sobi will contribute 25% of the direct development costs up to $10M per year. Meanwhile, ADC is responsible for clinical development and product supply to Sobi.
- Zynlonta is already approved in the U.S. as third line therapy for DLBCL; has an orphan status in the EU, and is under review in the region with a decision expected in Q1 2023.
For further details see:
Sobi to pay ADC Therapeutics $55M upfront to license Zynlonta in Europe, other regions