Active Biotech Receives Milestone Payment In Tasquinimod Agreement
Active Biotech, under the terms of a co-development and commercialisation agreement for tasquinimod entered into in 2011, has received a milestone payment of EUR 12mn from Ipsen.
Ipsen has exclusive rights to commercialise tasquinimod worldwide, except for North and South America and Japan, where Active Biotech has retained all commercial and marketing rights. Both companies co-develop tasquinimod for the treatment of metastatic castrate-resistant prostate cancer and Ipsen is also developing tasquinimod in other cancer indications. Active Biotech is responsible for conducting and funding the Phase III 10TASQ10 pivotal trial and will receive up to EUR 200mn (EUR 25mn up-front and EUR 32mn in milestones have been received so far) upon achievement of clinical, regulatory and commercial milestones. In addition, Ipsen will pay Active Biotech tiered double-digit royalties on all sales of tasquinimod in Ipsenâs territories. Active Biotech and Ipsen plan to conduct the primary progression-free survival analysis for the 10TASQ10 trial in 2014, at the same time as the first interim overall survival analysis.