Karyopharm, Ono ink $193M deal
Karyopharm Therapeutics and Ono Pharmaceutical announced their entry into an exclusive license agreement for the development and commercialization of selinexor, Karyopharm’s lead, novel, oral Selective Inhibitor of Nuclear Export (SINE) compound, and KPT-8602, Karyopharm’s second-generation oral SINE compound. The agreement includes the development of selinexor and KPT-8602 for the diagnosis, treatment and/or prevention of all human oncology indications in Japan, South Korea, Taiwan, Hong Kong and ASEAN countries (the Territory).
Under the terms of the agreement, Karyopharm will receive a one-time upfront payment of ¥2.5 billion (approximately $22.3 million) from ONO and retains all rights to selinexor and KPT-8602 outside the Territory. Karyopharm is eligible to receive up to an additional ¥19.15 billion (approximately $170.7 million at the current exchange rate) if specified future development and commercial milestones are achieved by ONO. Karyopharm is also eligible to receive low double-digit royalties based on future net sales of selinexor and KPT-8602 in the Territory. In exchange, ONO will receive exclusive rights to develop and commercialize both compounds in the Territory, at its own cost and expense. ONO will also have the ability to participate in any global clinical study of selinexor and KPT-8602, and will bear the cost and expense for patients enrolled in clinical studies in the Territory.
“We are very delighted to collaborate on the development of selinexor and KPT-8602, an early development stage XPO-1 inhibitor with Karyopharm, a leading pharmaceutical company focused on the research and development of novel first-in-class drugs in the oncology field,” said Gyo Sagara, President, Representative Director of ONO. “We believe both products will present a new treatment option to patients suffering from devastating cancers in Asian countries.”
“Given ONO’s established leadership in oncology, including Opdivo (nivolumab) and Kyprolis (carfilzomib) in Japan, we believe there is no company better suited to advance both selinexor and KPT-8602 in Japan and the other licensed territories,” said Michael G. Kauffman, MD, PhD, Chief Executive Officer of Karyopharm. “ONO is well-known and widely respected for its clinical development and commercial expertise, and this partnership provides important validation for both compounds, while allowing us to remain focused on executing our late-phase selinexor trials and pursue regulatory approval in the United States and European Union. We look forward to working with the ONO team to advance both compounds with the goal of rapidly bringing them to patients who are in need of new treatment options.”