Enzon Pharmaceuticals Inc. (ENZN)

[StockRoomBully]

News on Vicineum Royaly official again.

Sesen Bio announces an exclusive license agreement with Qilu Pharmaceutical for the development and commercialization of Vicineum™ in Greater China
Sesen to receive $12 million upfront and $23 million in potential regulatory and tech transfer milestone payments

Term agreements

Under the terms of the agreement, Sesen granted Qilu Pharmaceutical an exclusive license to develop and commercialize Vicineum in Greater China.

Sesen will receive an upfront payment of $12 million and is eligible to receive up to an additional $23 million in technology transfer and regulatory milestone payments.

Upon commercialization in Greater China, Sesen is also entitled to receive royalties on net sales in Greater China. Sesen retains full development and commercialization rights for Vicineum for the treatment of NMIBC in the US and the rest of the world excluding Greater China. The terms of the agreement also include the transfer of the Vicineum manufacturing technology to Qilu Pharmaceutical, whose world-class manufacturing expertise represents a future opportunity for production expansion to meet the anticipated significant global demand for Vicineum for the treatment of NMIBC.

From 10Q

Vicineum, one of Sesen’s drug candidates that is in Phase 3 clinical trials being evaluated for the treatment of patients with non-muscle invasive bladder cancer. To our knowledge, under the terms of this license agreement between Micromet and Viventia, Micromet is entitled to receive (i) certain milestone payments with respect to the filing of a new drug application for Vicineum with the FDA or the filing of a marketing approval application for Vicineum with the EMEA; (ii) certain milestone payments with respect to the first commercial sale of Vicineum in the U.S. or Europe and (iii) certain royalties on net sales for ten years from the first commercial sale of Vicineum. Pursuant to the Micromet Marketing Agreement, we would be entitled to a 50% share of these milestone payments and royalties received by Micromet

https://www.businesswire.com/news/home/20200731005236/en/Sesen-Bio-announces-exclusive-license-agreement-Qilu