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Human Genome partners with FivePrime

Thursday, March 17, 2011 12:25 PM

Human Genome Sciences said it will develop and commercialize a drug for multiple cancers from FivePrime Therapeutics in the U.S., Canada and European markets, according to a Reuters report.

FivePrime Therapeutics will get an upfront license payment of $50 million and will be eligible to receive up to $445 million in milestone payments, along with double-digit royalties on net sales.

FivePrime will retain minority co-promotion rights in the U.S. and full development and commercialization rights in the rest of world, including Asia, the companies said in a statement.

The drug, FP-1039, targets multiple fibroblast growth factor ligands. It is currently in mid-stage trials for a form of endometrial cancer.

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