Taiho and Cullinan renegotiate rights to lung cancer candidate
Tokyo’s Taiho Pharmaceutical, a business of Japanese drug major Otsuka Pharmaceutical (TYO: 4768), has agreed to buy part of Cullinan Oncology (Nasdaq: CGEM), thereby regaining rights to a candidate it out-licensed in 2019.
Through acquiring the subsidiary Cullinan Pearl, Taiho will pick up rights to co-develop and co-commercialize the American firm’s lead program, CLN-081, in the USA.
Having previously sold rights to Cullinan, Taiho will now regain a license for exclusive worldwide ex-Japanese development and commercialization, paying $275 million upfront. Taiho will also agree to pay up to an additional $130 million tied to regulatory milestones in this indication.
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