ADC Therapeutics SA (NYSE:ADCT) has entered an exclusive license agreement with Mitsubishi Tanabe Pharma Corporation to develop and commercialize Zynlonta (loncastuximab tesirine-lpyl) for all hematologic and solid tumor indications in Japan.
- Under the agreement terms, ADC Therapeutics will receive an upfront payment of $30 million and up to an additional $205 million in milestones payments.
- ADC Therapeutics will also receive sales-based royalties ranging in percentage from the high teens to the low twenties.
- Mitsubishi Tanabe will conduct clinical studies of Zynlonta in Japan and will have the right to participate in any global clinical studies of the product by bearing a portion of the costs of the study.
- In April 2021, the FDA granted accelerated approval to Zynlonta as the first and only CD19-targeted ADC as a single-agent treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy.
- European application has been validated by the European Medicines Agency (EMA) and is under review by the EMA's Committee for Medicinal Products for Human Use (CHMP).
- Price Action: ADCT shares closed lower by 9.32% at $17.22 on Friday.
