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Today, East China Pharmaceuticals announced that its wholly-owned subsidiary, China East China, has reached an exclusive clinical development and commercialization agreement with ImmunoGen corporation in the United States on October 19, 2020.
East China Pharmaceuticals has acquired the exclusive clinical development and commercialization rights of ImmunoGen U.S. Clinical Phase III research product Mirvetuximab Soravtansine (the new antibody-coupled drug ADC for the treatment of ovarian cancer) in Greater China (including Chinese mainland, Hong Kong, Macau and Taiwan).
East China will pay a $40 million down payment and a milestone payment of up to $265 million to ImmunoGen, as well as an agreed percentage sales fee.
2020, 10 ADC drugs worldwide have been approved for FDA approval.
the global ADC market is expected to reach $12.9 billion by 2024, according to EvaluatePharma and BCG.
mirvetuximab Soravtansine, the world's first ADC drug for FR alpha-positive ovarian cancer, is the world's first platinum-resistant ovarian cancer with high expression of folic acid lipolys. First-in-class, ImmunoGen is expected to submit a listing application in the U.S. by the end of 2021, a U.S. approval in 2022, and East China Pharmaceuticals plans to launch a MIRV China clinical registration application in the first half of 2021.
attached: "Exclusive Clinical Development and Commercialization Agreement" main content 1, the main content of the agreement East China to obtain the ImmunoGen products Mirvetuximab Soravtansine in Greater China (including Chinese mainland, Hong Kong, Macau and Taiwan) exclusive clinical development and commercial rights.
2, the total amount of the agreement consists of down payment, clinical and registration milestones, sales milestones and sales fees, of which: (1) a down payment of US$40 million shall be paid within 15 working days of the signing and entry into force of the agreement; (2) Clinical and registration milestones and sales milestones of up to $265 million will be paid upon completion of the relevant clinical and registration milestones for MIRV products and after the product reaches the agreed amount of annual net sales in Greater China;
3, the agreement enters into force The above-mentioned exclusive development and commercialization agreement shall enter into force as of the date signed by the two parties.
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