BeiGene, Mirati in Immuno-Oncology PactBy
BeiGene, a Beijing, China-headquartered clinical-stage biopharmaceutical company focused on immuno-oncology, and Mirati Therapeutics, a San Diego, California-headquartered clinical-stage oncology company, have signed an agreement for the development, manufacturing, and commercialization of Mirati’s sitravatinib, an investigational lung cancer drug, in Asia (excluding Japan), Australia, and New Zealand. Mirati will retain exclusive rights for the development, manufacturing, and commercialization of sitravatinib for the rest of world.
Sitravatinib is an investigational tyrosine kinase inhibitor designed for inhibition of receptor tyrosine kinases (RTKs), including RET, TAM family receptors (TYRO3, Axl, MER), and split family receptors (VEGFR2, KIT). The drug is being evaluated by Mirati as a single agent in a Phase Ib expansion trial in patients whose tumors harbor specific genetic alterations in non-small cell lung cancer and other tumors types.
Under the agreement, Mirati will receive an upfront cash payment of $10 million from BeiGene. Additionally, Mirati is eligible to receive up to $123 million of additional payments based upon the achievement of certain development, regulatory, and sales milestones as well as royalties on future sales of sitravatinib in the licensed territory.