Baxalta and Symphogen have entered a broad strategic immuno-oncology collaboration aimed at advancing novel therapeutics against six checkpoint targets. Based on successful completion of Phase I trials, expected to enter clinical studies in 2017, Baxalta will have exclusive option rights to complete late-stage development and worldwide commercialization. Symphogen will receive an upfront payment of $175 million in exchange for the exclusive option rights for six checkpoint therapies. Symphogen will be responsible for R&D through Phase I. The agreement is valued at $1.6 billion in option fees and milestones over the long-term, as well as royalties on sales.
“This exciting partnership aligns well to Baxalta’s strategy to invest in immuno-oncology and build an innovative portfolio of immunotherapies,” said David Meek, executive vice president and president, Oncology, Baxalta. “With the expertise Symphogen offers in this category and their broad portfolio of early-stage immuno-oncology programs, this collaboration allows us to actively advance one of the most innovative areas of this field. For Baxalta, this is just the beginning of our focus in building world-class capabilities in immuno-oncology.”
“Baxalta’s dedication to delivering transformative therapies and its global commercial presence make it an ideal strategic partner for Symphogen, as we complement Baxalta with R&D competencies within the immuno-oncology area,” said Kirsten Drejer, Ph.D., Chief Executive Officer, Symphogen. “We look forward to providing Baxalta with innovative immuno-oncology product candidates under this broad collaboration.”
