Myovant Sciences and Accord Healthcare recently announced that they have entered into an exclusive licence agreement for Accord to commercialise relugolix for the treatment of advanced hormone-sensitive prostate cancer under the trade name Orgovyx (relugolix, 120 mg) in the European Economic Area, the UK, Switzerland and Turkey, with the right of the first negotiation if Myovant decides to enter into licensing arrangements in countries in the Middle East, Africa and India.
Under the terms of the agreement, Myovant will receive an upfront payment of $50 million and is eligible to receive commercial launch, sales-based and other milestones totalling up to $90.5 million. In addition, Myovant is eligible to receive tiered royalties from the high-teens to mid-twenties on net sales. Myovant will continue to lead the global development of relugolix and provide initial product supply to Accord. Accord will be responsible for certain local clinical development, all commercialisation for its territories, and has the option to manufacture relugolix in the future, a statement from Intas Pharma said.
“Accord currently supplies around one in three injectable oncology medicines in Europe and this agreement underpins our commitment to patients with cancer and our continued investment in novel therapies. With over 1.9 million men living with prostate cancer in Europe, our partnership with Myovant will provide men living with hormone-sensitive advanced prostate cancer a new oral treatment option,” Binish Chudgar, Managing Director, Accord, said in the statement.
On 29th April, 2022, the European Commission approved the marketing authorisation application for Orgovyx (relugolix, 120 mg) for the treatment of adult patients with advanced hormone-sensitive prostate cancer. The decision applies to all 27 European Union (EU) member states plus Iceland, Norway and Liechtenstein. The marketing authorisation application for Orgovyx is pending review by the United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA). Accord expects to launch the product in Europe in the second half of calendar year 2022, the statement further notified.
Goldman Sachs has acted as the exclusive financial adviser to Myovant and Sidley Austin represented Myovant in the transaction, concluded the statement.