06 August 2020 | News
G1 to receive $14 million upfront payment, sales royalties and up to $156 million in future milestone payments
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US based G1 Therapeutics, Inc., a clinical-stage oncology company, and Simcere Pharmaceutical Group, a pharmaceutical company rapidly transitioning to an innovative and R&D-driven company in China, have announced an exclusive license agreement for the development and commercialization of trilaciclib across all indications in Greater China (mainland China, Hong Kong, Macau and Taiwan).
Discovered and developed by G1, trilaciclib is a first-in-class investigational therapy designed to improve outcomes for people with cancer treated with chemotherapy.
“Trilaciclib has the potential to be the first proactively administered myelopreservation therapy that can improve outcomes for patients receiving chemotherapy. We are excited to collaborate with Simcere, an established leader in innovative drug development and commercialization in China, to advance this new therapy in China,” said Mark Velleca, M.D., Ph.D., Chief Executive Officer of G1. “Simcere has extensive experience conducting clinical trials and securing regulatory approvals in China, and an expansive commercial infrastructure that supports education and access. These strengths make them an important strategic partner for G1 to achieve our vision of bringing trilaciclib to patients around the world.”
Under the terms of the agreement, G1 will receive an upfront payment of $14 million and be eligible to receive up to $156 million in development and commercial milestone payments. Simcere will also pay G1 tiered low double-digit royalties on annual net sales of trilaciclib in Greater China.
Simcere will have exclusive development and commercialization rights for trilaciclib for all indications in Greater China, and will participate in global clinical trials of trilaciclib. G1 retains development and commercialization rights to trilaciclib in all territories outside of Greater China. The companies will be responsible for all development and commercialization costs in their respective territories.
Pin Wang, Ph.D., Chief Scientific Officer of Simcere, said: “Chemotherapy is the cornerstone therapy for cancer patients. China, as a major user of this treatment modality, has a considerable patient population who are suffering from myelosuppression caused by chemotherapy. We are delighted to form this alliance with G1 Therapeutics to develop and commercialize world’s first-in-class investigational myelopreservation therapy, trilaciclib, in China. We look forward to further expanding its clinical value based on the unique mechanism of trilaciclib. It is hoped that through the joint efforts of both parties trilaciclib will soon address a key unmet medical need in the treatment of cancer patients globally.”
Lung cancer is the most common cancer worldwide, with small cell lung cancer accounting for approximately 15% of all lung cancer cases. According to the World Health Organization’s (WHO) specialized cancer agency, the International Agency for Research on Cancer (IARC), there were almost 750,000 new lung cancer cases in China in 2018.