Sierra Oncology (NASDAQ:SRRA) has acquired the drug candidate, momelotinib, from Gilead Sciences (NASDAQ:GILD) for a $3-million upfront fee and potential milestone payments of up to $195-million, which are largely associated with commercial sales of the drug.
Sierra also will pay Gilead royalties on any sales of momelotinib, which will be tiered based on commercial success and range from mid-teens to high-twenties. Sierra will assume all currently ongoing clinical studies with momelotinib following a transition period.
Momelotinib has been investigated in two completed Phase 3 trials for the treatment of myelofibrosis and has demonstrated a potentially differentiated therapeutic profile encompassing anemia-related benefits, as well as achieving substantive spleen and constitutional symptom control.
“Opportunistically adding this compelling Phase 3 asset to our existing pipeline of next generation oncology drug candidates, SRA737 and SRA141, helps establish Sierra as a diversified late-stage drug development company with a commercial orientation,” Dr. Nick Glover, president and CEO of Sierra, said in a statement.
“The company is uniquely positioned to advance momelotinib towards potential registration with several members of the Sierra senior management team having played key roles in the development of momelotinib from its discovery through to Phase 3 clinical trials,” he added.
Dr. Glover said the body of clinical data generated from more than 1,200 patients dosed to date would guide and support Sierra’s momelotinib development strategy.
“We believe an additional clinical study likely will be required to consolidate these clinical data, and over the coming months, we plan to engage with key opinion leaders and regulators to further define an expeditious regulatory path for momelotinib,” he added.
