Medivation Licenses Pidilizumab, Oncology Monoclonal Antibody From CureTech
By Cyndi Root
Medivation has licensed an oncology treatment, pidilizumab (CT-011), from CureTech, an Israeli company. Medivation announced the worldwide licensing in a press release, stating that CureTech will also manufacture and supply the agent for clinical trials. If CureTech and its largest shareholder, Clal Biotechnology Industries, do not approve the license and supply agreement, Medivation may opt to lower its financial obligations. The San Francisco Times, Medivation’s hometown paper, reports that this is a “low-risk” deal for Medivation and it comes with “an escape hatch.”
Medivation and CureTech Agreement
CureTech has extended worldwide, exclusive rights to Medivation for pidilizumab. Medivation will develop the agent and be responsible for regulatory activities and commercialization.
David Hung, M.D., President and CEO of Medivation, said, "Immuno-oncology is a significant area of interest for researchers in the development of anti-cancer therapies, marked by its potential to stimulate the body's immune system to fight disease. Licensing rights to pidilizumab under this agreement marks an important step in our strategy to further diversify our portfolio."
CureTech has also agreed to a manufacturing and supply arrangement over the next three years for clinical supply of pidilizumab to Medivation researchers.
In a unique arrangement, the deal is good only if CureTech and CBI provide Medivation with a guaranty, subject to approval by CBI shareholders. Medivation can terminate both the license agreement and the manufacturing and supply agreement if the guaranty is not provided or reduce by $2 million the upfront payment and cut 1 percent from each royalty tier. Shareholders are expected to vote in December 2014. If the shareholders approve, Medivation will make a $5 million upfront payment and milestone payments up to $85 million, as well as royalties on sales.
Pidilizumab
Pidilizumab (CT-011) is CureTech's late-stage molecule, an immune modulatory anti-PD-1 monoclonal antibody. The antibody targets the immune system by binding to the PD-1 protein on T lymphocytes, thereby facilitating T-cell targeting and destruction of cancer cells.
About Medivation
Medivation knows what it is doing in partnerships having partnered with Astellas since 2009 on Xtandi (enzalutamide) for the treatment of metastatic castration-resistant prostate cancer (mCRPC). The Food and Drug Administration (FDA) recently approved their supplemental New Drug Application (sNDA) for Xtandi in patients with mCRPC who have previously received docetaxel chemotherapy.