Telix Pharmaceuticals Limited has entered into a license agreement with Eli Lilly and Company under which Telix is granted exclusive worldwide rights to develop and commercialize radiolabelled forms of Lilly's olaratumab antibody for the diagnosis and treatment of human cancers. Telix's initial development focus will be on a rare type of cancer known as soft tissue sarcoma (STS).
Olaratumab was originally developed by Lilly as a (non-radiolabelled) monoclonal antibody targeting Platelet Derived Growth Factor Receptor Alpha (PDGFRα). PDGFRα is expressed in multiple tumor types including STS. STS is generally a radiation susceptible cancer that may be inherently amenable to systemic radionuclide therapy and olaratumab's ability to target PDGFRα makes it a highly novel and potentially exciting candidate for use as a radionuclide targeting agent. The exclusive worldwide license will allow Telix to repurpose olaratumab as a targeting agent for radiopharmaceutical imaging and therapy of cancer. Olaratumab has an established safety profile that underpins its potential use as a radionuclide targeting agent.
Material terms of the agreement
Under the terms of the agreement Telix will pay Lilly an upfront payment of US$5M (~AU$6.7M) for the grant of an exclusive license to Lilly's intellectual property related to the development of a radiolabelled olaratumab, as well as access to material for use by Telix in initial pre-clinical and early-phase clinical studies in application to potential uses for the diagnosis and treatment of human cancers.
Lilly may be eligible for up to US$225M (~AU$301M) in payments based upon the achievement of pre-specified development, regulatory and commercial milestones. Lilly would also be eligible to receive industry standard royalties on net sales. The agreement also includes an option for Lilly to be granted an exclusive license to a radiolabelled companion diagnostic which would be developed by Telix. If exercised, Lilly will pay Telix US$5M (~AU$6.7M) and up to US$30M (~AU$40.1M) in potential development milestones, as well as industry standard royalties.
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