Clavis Pharma and Clovis Oncology sign $380 million deal for anti-cancer agent CP-4126

Norwegian oncology focussed Clavis Pharma and USA-based Clovis Oncology, the newly-formed oncology company led by former Pharmion Corp executives, have an agreement for the further development and commercialization of the Clavis Pharma drug candidate, CP-4126, currently in Phase II development in pancreatic cancer. CP-4126 is a novel, patented, lipid-conjugated form of the anti-cancer drug gemcitabine that has the potential to improve treatment outcomes in a large subset of patients with pancreatic cancer and certain other solid tumours.

The deal provides for Clavis to receive an upfront cash payment of $15 million from Clovis and will be eligible for further payments totalling up to $365 million on Clovis' successful attainment of development, regulatory and sales milestones. Clavis will be eligible for tiered double-digit royalties on all product sales in the licensed territories.

Under the terms of the accord, Clovis will take over responsibility for product development and manufacturing of CP-4126, and for filing of marketing approvals in the USA, Europe, Canada, Central and South America and will be responsible for commercialisation in those territories. Clavis Pharma retains the option to co-develop and co-promote CP-4126 in Europe.