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news.Allos Therapeutics, a biopharmaceutical company engaged in the development and commercialization of anti-cancer therapeutics and Mundipharma have signed an agreement to develop Folotyn (pralatrexate injection).
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Developed by Allos, Folotyn is a folate analogue metabolic inhibitor, approved in the US to treat of patients with relapsed or refractory peripheral T-cell lymphoma (PTCL).
The tie up allows Allos to commercialize Folotyn in the US and Canada, whereas Mundipharma will commercialize the drug in all other countries.
As per the terms of the agreement, Mundipharma is responsible to pay a sum of $50m to Allos including and commercial progress- and sales-dependent milestone payments of up to $310.5m.
Allos is also entitled to receive tiered double-digit royalties based on net sales of Folotyn within Mundipharma’s licensed territories.
Allos and Mundipharma will jointly fund development costs, initially on a 60:40 basis, which will change to a 50:50 basis if certain pre-defined milestones are achieved, including approval of the MAA currently under review to market Folotyn in the EU.
Pursuant to a separate supply agreement with Mundipharma Medical Company, an affiliate of Mundipharma, Allos will supply Folotyn for Mundipharma’s clinical and commercial uses.
Allos president and CEO Paul Berns said they are currently seeking regulatory approval to market Folotyn in Europe for the treatment of patients with relapsed or refractory peripheral T-cell lymphoma.