Singapore's S*Bio has inked a $550 million licensing deal with Onyx Pharmaceuticals covering the development and commercialization of its JAK2 inhibitors, SB1518 and SB1578. S*Bio gets $25 million of that in upfront fees and an equity payment. The rest of the money is available through option and license fees along with development and sales milestones.
The pact covers the clinical development of SB1518 and preclinical to clinical development activities for SB1578 during the option period. Onyx can exercise its options for SB1518 and SB1578 at certain stages of development for each product. Each option converts into an exclusive license in all indications in the United States, Canada and Europe where Onyx will assume all of the associated development costs. And S*BIO retains rights to develop and commercialize SB1518 and SB1578 in the rest of the world.
"We are pleased to work with Onyx Pharmaceuticals and increase available resources to advance SB1518 and SB1578 rapidly through clinical development in multiple disease areas," said Dr. Jan-Anders Karlsson, CEO of S*BIO. "We chose Onyx as a partner due to the flexibility of the deal, which retains upside to us, and our ability to participate in the clinical development and the future plans for these compounds."
- check out S*Bio's release