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(Alliance News) - Hutchmed (China) Ltd on Monday announced it will partner with biopharmaceutical firm Epizyme Inc on a treatment for patients with epithelioid sarcoma and follicular lymphoma.
The partnership will see the two companies research, develop, manufacture and commercialise Tazverik in the Greater China area, comprising Hong Kong, Macau and Taiwan alongside mainland China.
Tazverik has been developed by Epizyme and is already approved as a treatment by the US Food & Drug Administration for epithelioid sarcoma, a soft tissue cancer, and follicular lymphoma, a cancer of the lymphatic system.
"Tazverik's potential for broad applicability and favourable safety profile may provide further inhibition of tumour growth and metastasis when used in combination therapy," commented Hutchmed Chief Executive Christian Hogg.
"We believe that Epizyme and Hutchmed are uniquely positioned to realise these opportunities and thereby rapidly benefit as many patients, both inside and outside China, as possible."
Hong-Kong based Hutchmed will be responsible for the development and commercialisation of Tazverik in greater China, as part of the partnership.
Epizyme will receive a USD25 million upfront payment as part of the deal and is eligible to receive up to an additional USD110 million in development and regulatory milestone payments and USD175 million in sales milestone payments. Hutchmed will receive a four-year warrant to buy up to USD65 million of Epizyme shares at USD11.50 per share.
Hutchmed plans to develop and seek approval in China for Tazverik in "various hematological and solid tumours", including epithelioid sarcoma, follicular lymphoma and diffuse large b-cell lymphoma.
Shares in Hutchmed were trading up 0.3% at 605.00 pence each in London on Monday morning.
By Will Paige; willpaige@alliancenews.com
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