Cambridge, Mass.-based Sarepta Therapeutics recently entered into a licensing and collaboration agreement with Abingdon, U.K.-based Summit Therapeutics.
Here are four things to know about the deal.
- Sarepta will gain the rights to Summit's utrophin modulator portfolio — which includes an experimental Duchenne's muscular dystrophy drug — in Europe, Turkey and the Commonwealth of Independent States. Summit will maintain commercial rights in all other countries.
- Through the agreement, Sarepta will give Summit an upfront payment of $40 million. Summit will also be eligible to receive up to $522 million in milestone payments, as well as royalties of net sales in licensed territories.
- Sarepta and Summit will share utrophin modulator-related research and development costs at a 45/55 percent split, respectively, starting in 2018.
- On Sep. 19, the Food and Drug Administration approved Sarepta's drug eteplirsen to treat Duchenne's muscular dystrophy. The new collaboration will give Sarepta access to an additional 20 percent of Duchenne's muscular dystrophy patients outside of the U.S., said Debjit Chattopadhyay, an analyst at Janney Montgomery Scott, in a Reuters report.
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