Verastem signs commercialization agreement with Sanofi for Copiktra in EMEA.
Verastem (VSTM) announced their entry into an exclusive licensing agreement with Sanofi (SNY) to develop and commercialize Verastem Oncology's COPIKTRA, or duvelisib, an oral inhibitor of phosphoinositide 3-kinase, and the first approved dual inhibitor of PI3K-delta and PI3K-gamma, for the treatment of all oncology indications in Russia and CIS, Turkey, the Middle East and Africa. Under the terms of the agreement, Verastem Oncology shall receive an upfront payment of $5M. Verastem Oncology is also eligible to receive up to an additional $42M in development and sales milestone payments, plus double-digit percentage royalties based on future net sales of COPIKTRA in the licensed territories. Sanofi will receive exclusive rights to develop and commercialize COPIKTRA, and hold the marketing authorization and product license for COPIKTRA, in the licensed territories. Sanofi will also have the right to collaborate with Verastem Oncology on certain global development and clinical trial activities.