Eoneren Agios Pharmaceuticals ( NASDAQ: AGIO ) announced an agreement with Royalty Pharma ( NASDAQ: RPRX ) on Tuesday to sell its 15% royalty on potential U.S. net sales of brain cancer therapy vorasidenib, which it entitles to as part of a separate deal with French pharma company Servier.
Vorasidenib is currently under FDA priority review for a brain tumor called IDH-mutant diffuse glioma, with a target action date of August 20, 2024. Agios ( AGIO ) sold its oncology portfolio, including vorasidenib, to Servier in 2021 in return for rights to receive a 15% royalty on U.S.
net sales and a potential $200M in the event of FDA approval. According to its latest agreement, Agios ( AGIO ) will receive $905M upfront from Royalty Pharma ( RPRX ), subject to FDA approval of vorasidenib. Royalty Pharma ( RPRX ) will own royalty based on annual U.
S. net sales of the drug, taking a full 15% royalty share on up to $1B in sales and 12% royalty on sales more than $1B. Agios ( AGIO ) will retain a 3% royalty on annual U.
S. net sales exceeding $1B. Agios ( AGIO ) will continue to have rights to receive $200M from Servier in the event of an FDA nod for vorasidenib.
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