Human Genome Sciences and FivePrime Therapeutics have entered into an agreement to develop and commercialise FivePrime’s FP-1039 product for multiple cancers.
Under the terms of agreement, Human Genome Sciences has acquired the rights to develop and commercialise FP-1039 in the US, Canada and EU.
FivePrime retains minority co-promotion rights in the US, as well as the full development and commercialisation rights in the rest of the world.
Human Genome Sciences will pay FivePrime an upfront license fee of $50m. FivePrime will be eligible to receive up to $445m in future development, regulatory and commercial milestone payments.
FivePrime will also be eligible for royalty payments based on net sales.
FP-1039 is being assessed in an ongoing phase I clinical study in which it was found to be safe and well-tolerated to date.
Patients are currently being screened for a Phase II trial for a form of endometrial cancer.
FP-1039 is a first-in-class biologic discovered by FivePrime that targets multiple fibroblast growth factor ligands.