Friday, December 22, 2023
CStone Pharmaceuticals ("CStone," HKEX: 2616) and Servier, a global pharmaceutical group, have recently announced a collaborative agreement. This agreement entails Servier acquiring exclusive rights to develop and commercialize TIBSOVO® (ivosidenib tablets) in Greater China and Singapore. The deal involves CStone transferring the TIBSOVO business to Servier for $44 million, along with an additional payment of up to $6 million upon the completion of the transition. This arrangement effectively terminates the licensing agreement between CStone and Servier, releasing CStone from any outstanding payment obligations related to development and commercialization milestones.
TIBSOVO, an oral targeted IDH1 inhibitor, gained approval from the National Medical Products Administration of China in January 2022 for treating adult patients with relapsed/refractory acute myeloid leukemia (AML) having a susceptible IDH1 mutation. Since its introduction in mainland China, TIBSOVO is available in almost 80 hospitals and DTP pharmacies, covered by commercial insurance programs in approximately 100 cities. The drug has garnered recognition in over six clinical guidelines and consensus statements due to its robust clinical profile. Additionally, the Named Patient Program (NPP) for TIBSOVO has been initiated in Hong Kong, Taiwan, and Singapore.
Dr. Jason Yang, CEO of CStone, expressed pride in the accomplishments and efforts in commercializing TIBSOVO, highlighting that Servier, as the global rights holder, is an ideal partner to maximize the drug's value in Asian territories. This transaction allows CStone to redirect its focus toward developing more innovative therapies globally.
Philippe Gonnard, Executive Vice President of Global Product Strategy at Servier, emphasized TIBSOVO's transformative breakthrough in cancer therapy and the alignment of this agreement with Servier's global oncology strategy. The deal solidifies Servier's commitment to enhancing its oncology presence in Asia and providing groundbreaking therapeutic options to patients with rare and challenging cancers in Greater China and Singapore.
Source: prnasia.com
