Puma Biotech punts near $300 million on Takeda discard

A drug candidate that Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) pretty much decided to discontinue back in 2015, has now been out-licensed in a deal that could earn the firm nearly $300 million should it prove successful, albeit with a modest upfront payment..

USA-based Puma Biotechnology (Nasdaq: PBYI) has seen potential in the drug, alisertib, a selective, small-molecule, orally administered inhibitor of aurora kinase A. Alisertib (formerly MLN8237) has been tested in clinical trials in patients with metastatic cancers including breast cancer, small cell lung cancer, head and neck cancer, ovarian cancer, peripheral T cell lymphoma and acute myeloid leukemia.

Under the terms of the agreement, Puma will assume sole responsibility for the global development and commercialization of alisertib. Takeda will receive an upfront license fee of $7 million and is eligible to receive potential future milestone payments of up to $287.3 million on Puma’s achievement of certain regulatory and commercial milestones over the course of the agreement, as well as tiered royalty payments for any net sales of alisertib.