Forty Seven, Ono Pharmaceutical sign regional license agreement for 5F9.
Forty Seven (FTSV) and Ono Pharmaceutical (OPHLY) announced an exclusive license agreement for the development, manufacture and commercialization of 5F9, Forty Seven's monoclonal antibody against CD47. The agreement includes all therapeutic uses of 5F9 as a monotherapy or combination agent in Japan, South Korea, Taiwan and the ASEAN countries. Forty Seven will retain all rights to 5F9 in the rest of the world including the United States, Europe and China. Under the terms of the agreement, Forty Seven will receive a one-time upfront payment of approximately $15.8M from Ono. Forty Seven is eligible to receive up to an additional approximately $104M at current exchange rates if specified future development and commercial milestones are achieved by Ono, in addition to tiered percentage royalties, spanning from the mid-teens to the low-twenties, on future net sales of 5F9 in the Territory. In exchange, Ono will receive exclusive rights to develop, manufacture and commercialize 5F9 in the Territory, at its own cost and expense. Additionally, Ono will have the right to participate in global clinical studies of 5F9 by bearing the development cost in the countries.
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|Date:||Jul 11, 2019|
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