Rolapitant, a Phase III-ready, oncology supportive-care product candidate, is a selective neurokinin-1 (NK-1) receptor antagonist with an extended plasma half-life that has the potential to improve the management of nausea and vomiting experienced by cancer patients undergoing treatment with emetogenic chemotherapy.
Under the terms of the agreement OPKO is eligible for payments of up to $121m, including an up-front payment and additional payments based upon achievement of specified regulatory and commercialisation milestones; and will receive double digit tiered-royalties on sales.
Tesaro and OPKO will share future profits from the commercialisation of licensed products in Japan and OPKO will have an option to market the products in Latin America.
In addition, OPKO will acquire a 10% equity position in Tesaro.
Tesaro CEO Lonnie Moulder said that Tesaro is very pleased to announce this agreement with OPKO and to advance the development of Rolapitant, an important supportive care product candidate.
University of Vermont Medicine and Pharmacology Steven Grunberg said that the successful results of the randomised, controlled Phase II clinical trial of Rolapitant in patients receiving an anticancer regimen with high potential to produce nausea and vomiting are encouraging for this potentially differentiated agent.