BRIEF—Puma out-licenses rights to Nerlynx in Europe

Puma Biotechnology has out-licensed rights to develop and commercialize its breast cancer therapy Nerlynx (neratinib) to France’s Pierre Fabre. The agreement covers Europe and parts of Africa.

The product was approved in the EU in September 2018, for the extended adjuvant treatment of certain adults with breast cancer, who completed prior adjuvant trastuzumab-based therapy within a year.

Puma will receive an upfront payment of $60 million, as well as additional regulatory and commercial milestone payments of up to $345 million, plus double-digit royalties.