BeiGene Ltd. agreed to acquire an exclusive license from EUSA Pharma Inc. to develop and commercialize Sylvant and Qarziba in parts of Asia.
Beijing-based BeiGene agreed to make an undisclosed upfront payment to EUSA Pharma for the license, which covers mainland China, as well as Hong Kong, Macau and Taiwan. BeiGene will be responsible for all clinical development and regulatory submissions in the respective regions.
EUSA will be eligible to receive milestone payments for up to $160 million and royalties on future product sales.
Sylvant, or siltuximab, is approved in multiple countries to treat a rare, potentially life-threatening disorder called idiopathic multicentric Castleman's disease. Qarziba, or dinutuximab beta, is approved in the EU to treat high-risk neuroblastoma, a rare form of cancer that starts in special nerve cells that are left behind from a baby's development in the womb. It affects children and young people.
China's National Medical Products Administration has listed both the drugs for fast-track approval.
Jefferies International Ltd. was the exclusive advisor to EUSA on the transaction.