Immutep (ASX: IMM; NASDAQ: IMMP) and Dr. Reddy’s Laboratories (BSE: 500124; NSE: DRREDDY; NYSE: RDY; NSEIFSC: DRREDDY) have announced that they have entered into a strategic collaboration and exclusive licensing agreement for the development and commercialization of the oncology drug Eftilagimod Alfa (efti)—in all countries outside North America, Europe, Japan, and Greater China.
Under the terms of the agreement, Immutep is to receive an upfront payment of $20 million and is also eligible to receive potential regulatory development and commercial milestone payments of up to $349.5 million, plus double-digit royalties on commercial sales.
In a statement, M.V. Ramana, CEO, Branded Markets (India & Emerging Markets) of Dr. Reddy’s, commented, “This collaboration marks our continuous efforts to deliver first-in-class and innovative therapies for cancer treatment. Efti is a novel immunotherapy with the potential to set a new standard of care in combination with pembrolizumab (Keytruda) and chemotherapy as first-line therapy for non-small cell lung cancer. Its broad potential extends to other major cancers across multiple stages of disease. Through this agreement, we look forward to leveraging our expertise and strong market access to advance the development and commercialization of this promising cancer therapy in the licensed markets.”
Marc Voigt, CEO of Immutep, remarked, “This agreement with Dr. Reddy’s marks a significant milestone for Immutep and further validates the potential of efti. Dr. Reddy’s proven capabilities and reach in the licensed markets make them an ideal partner to maximise the impact of our innovation and serve a large number of patients across the globe. Additionally, this partnership allows us to capture significant value for efti in the licensed markets, while retaining full rights in key markets such as North America, Europe, and Japan, and ensures we remain very well-positioned for future value creation.”
