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Kyowa Kirin amends AVEO Oncology license agreement.

M2 EQUITYBITES-August 5, 2019-Kyowa Kirin amends AVEO Oncology license agreement


Japan-based Kyowa Kirin has amended its license agreement with United States-based AVEO Oncology to enable Kyowa Kirin to purchase back the non-oncology rights of tivozanib in AVEO territories, which includes the United States and European Union, it was reported on Friday.

The contract is an amendment to the terms of the 2006 tivozanib license agreement between Kyowa Kirin and AVEO, which granted AVEO exclusive rights for tivozanib in all indications.

According to the terms of the amended license contract, Kyowa Kirin will re-obtain the non-oncology rights of tivozanib in AVEO territories excluding the rights that are presently sublicensed to EUSA Pharma. Kyowa Kirin will be obligated to a USD25m upfront payment to AVEO, will waive AVEO's obligation to make an USD18m milestone payment upon AVEO receiving US marketing approval, and up to USD391m in potential milestone payments upon the successful achievement of certain development and commercial objectives in non-oncology indications of tivozanib. Kyowa Kirin will also be obligated to make tiered royalty payments on the net sales of these indications that range from a high single-digit to low double-digit percent.

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Publication:M2 EquityBites (EQB)
Date:Aug 5, 2019
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