Madrid, 26th of June 2018.- On April 27th, 2018 PharmaMar (MSE:PHM) reported to National Securities Market Commission that Chugai Pharmaceutical Co., Ltd. had exercised its right to terminate without cause the License, Development and Commercialization Agreement for Zepsyre® in Japan entered on December 22nd, 2016 , with an effective date of termination in April 2019.
Today, PharmaMar announces that both Chugai and PharmaMar have entered into a mutual early termination agreement of this license agreement under which the termination of the license agreement is effective as of today and neither company shall have any further obligation to the other party thereafter. Consequently, under the terms of this early termination agreement, PharmaMar regains all its rights for Zepsyre® in Japan with immediate effect and will receive a payment of €3,000,000 from Chugai in consideration for the early termination of the license agreement.
PharmaMar continues with the clinical development of Zepsyre® in Japan, while its global registration trial in small-cell lung cancer (ATLANTIS; n=600) is about to finalize recruitment in July 2018. This pivotal, randomized, Phase III trial assesses the efficacy of Zepsyre® in combination with doxorubicin compared with the standard treatment for this indication.
ATLANTIS trial has successfully passed two
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