PharmaMar SA and Jazz Pharmaceuticals PLC's exclusive license deal for lung cancer drug Zepsyre received antitrust clearance in the U.S.

Under the agreement's terms, PharmaMar will receive an up-front payment of $200 million and up to $250 million if certain regulatory milestones are achieved.

PharmaMar could also receive up to $550 million in potential commercial milestone payments, as well as royalties from a percentage in the high teens to as much as 30% of future net sales of the drug.

Zepsyre, or lurbinectedin, is under review in the U.S. as a treatment for patients with small cell lung cancer whose disease returned and progressed after prior platinum-based therapy. The medicine holds the U.S. Food and Drug Administration's orphan-drug tag.