Scorpion will receive $65M up front, ~$553M upon achievement of milestones along with royalties on annual net sales of each licensed product in territories excl. US, Canada & Japan. Pierre Fabre will receive royalties based on annual net sales of each licensed product in the US
Scorpion gets commercialization rights to STX-721 & STX-241 in the US, Canada & Japan and will be responsible for the clinical development of STX-721. Pierre Fabre obtains rights in all other global territories & will lead the clinical development & commercialization activities of STX-241 in all other territories with a focus on the EU & China
Both companies will share global development expenses based on a pre-specified cost-sharing arrangement. STX-721 & STX-241 are currently advancing through preclinical studies & IND submission to the US FDA is expected in mid-23 & H1’24
Ref: Scorpion Therapeutics | Image: Scorpion Therapeutics
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