PharmaMar And Jazz Pharma Sign License Deal For Lurbinectedin In U.S.

(RTTNews) - PharmaMar and Jazz Pharmaceuticals plc (JAZZ) said that they have entered into an exclusive license agreement for lurbinectedin in the United States.

Jazz will expand its oncology portfolio with lurbinectedin, a late stage asset in relapsed small cell lung cancer or SCLC.

As per the terms of this agreement, PharmaMar will receive an upfront payment of $200 million with 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 percent. PharmaMar may receive additional payments on approval of other indications.

PharmaMar retains production rights for lurbinectedin and will supply the product to Jazz.

SCLC is a very aggressive cancer that usually is diagnosed with advanced, often metastatic, disease, thus limiting the role of traditional approaches and often posing a worse prognosis when compared to other lung cancers.