Summary
Regeneron Pharmaceuticals, Inc. announced on October 1, 2015, the execution of a strategic collaboration agreement with Mitsubishi Tanabe Pharma Corporation (MTPC). This agreement grants MTPC exclusive development and commercial rights for Regeneron's nerve growth factor antibody, fasinumab (REGN475), in several Asian territories, including Japan, South Korea, and various Southeast Asian countries. Fasinumab is a late-stage asset being developed for musculoskeletal pain. This collaboration provides Regeneron with immediate financial benefits, including up to $55 million in upfront and near-term payments, and potential future revenue streams from R&D reimbursement, development milestones totaling up to $170 million, and product supply at a tiered price ranging from 30% to 50% of net sales. Regeneron is also eligible for additional milestone payments of up to $100 million based on achieving specific annual net sales targets. The company will be responsible for supplying fasinumab for both clinical and commercial use.
Key Highlights
- 1Regeneron entered into a strategic collaboration with Mitsubishi Tanabe Pharma Corporation (MTPC) for its late-stage nerve growth factor antibody, fasinumab (REGN475).
- 2MTPC gains exclusive development and commercial rights for fasinumab in Japan, South Korea, and several Southeast Asian countries.
- 3Regeneron will receive upfront and near-term payments totaling up to $55 million.
- 4The agreement includes potential R&D reimbursement and development milestone payments to Regeneron of up to $170 million.
- 5Regeneron will supply fasinumab to MTPC for both clinical and commercial needs.
- 6Regeneron is eligible for tiered product supply payments ranging from 30% to 50% of net sales.
- 7Additional purchase price adjustment payments of up to $100 million are possible based on achieving specified net sales targets.