Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired a royalty interest in the cabozantinib products Cabometyx and Cometriq from GlaxoSmithKline (GSK) for an upfront payment of $342 million and up to $50 million in additional payments contingent on the achievement of regulatory approvals of cabozantinib for prostate cancer and lung cancer in the U.S. and Europe.
Cabometyx, a multi-tyrosine kinase inhibitor (TKI), is approved for the treatment of patients with advanced renal cell carcinoma (RCC) both as monotherapy and in combination with Bristol Myers Squibb’s Opdivo (nivolumab) as a first line treatment. Cabometyx is also approved for hepatocellular carcinoma (HCC) in patients previously treated with sorafenib. Cometriq is approved for progressive, metastatic medullary thyroid cancer. Cabometyx and Cometriq are marketed by Exelixis in the United States, and by their partner Ipsen in regions outside the U.S. and Japan. Cabometyx is marketed in Japan by Exelixis’ partner Takeda.
Goodwin Procter, Dechert and Maiwald acted as legal advisors to Royalty Pharma on the transaction.
This text is a press release from Royalty Pharma. The full text version of the article can be found here: Royalty Pharma Acquires Royalty Interest in Cabozantinib from GSK