US-based gene therapy company Tocagen has agreed to provide exclusive rights for ApolloBio to develop and commercialise its drug candidate, Toca 511 & Toca FC, in the greater China region.
The licensing agreement involves ApolloBio’s subsidiary Beijing Apollo Venus Biomedical Technology.
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Toca 511 & Toca FC is a cancer immunotherapy being developed for recurrent high grade glioma (HGG), a type of brain tumour.
Currently being evaluated in the Phase III Toca 5 clinical trial, the drug candidate secured breakthrough therapy status from the US Food and Drug Administration, and the European Medicines Agency has granted priority medicines designation.
Tocagen will receive $16m upfront and another $4m based on certain near-term development milestones such as Toca 5 trial completion.
Upon achieving further development and commercial milestones, the company will be eligible for an additional $111m and tiered royalty payments on net sales.
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By GlobalDataTocagen CEO Marty Duvall said: “As an innovative biopharmaceutical company in China, ApolloBio is well positioned to leverage China’s recent regulatory changes supporting the development of new medicines.
“ApolloBio brings valuable regional expertise in product development, regulation and healthcare access, positioning our lead product to advance towards patients in the greater China region as quickly and efficiently as possible.”
Under the agreement, ApolloBio will bear all development and commercialisation costs associated with the greater China region.
The deal is subject to customary conditions but it is expected to become effective from the second quarter of this year.
