PharmaMar S.A. (MSE: PHM) today announced that it has entered into a licensing agreement with Lotus Pharmaceutical CO. LTD. ("Lotus", TWSE: 1795) to market the anticancer drug urbinectedin in Taiwan.
Under the terms of the license and commercialization agreement, PharmaMar will receive an undisclosed upfront payment and will be eligible for additional compensation, including regulatory payments and milestone sales payments. PharmaMar will retain the manufacturing rights and sell the product to Lotus for clinical and commercial use.
Lotus will seek marketing approval in Taiwan and will have the right to offer the product for sale exclusively after receipt.
Lurbinectedin received fast-track approval from the United States Food and Drug Administration (FDA) for the treatment of metastatic small cell lung cancer in 2020. Additionally, in 2021, lurbinectedin received marketing approval in the United States. United Arab Emirates, Canada, Australia and Singapore.
Luis Mora, Managing Director of PharmaMar's Oncology and Virology Business Units, said:
