Summit Therapeutics, Sarepta Therapeutics deal
Summit granted Sarepta exclusive commercialization rights in Europe, Turkey and the Commonwealth of Independent States (CIS) to Summit’s utrophin (UTRN) modulator pipeline to treat Duchenne muscular dystrophy (DMD). The deal includes Summit’s ezutromid, a small molecule UTRN modulator that is in Phase II testing.
Summit will receive $40 million up front and is eligible for up to $482 million in development and regulatory milestones. The milestones comprise $192 million in ezutromid-related milestones, including $22 million upon dosing of the last Phase II patient; and $290 million tied to additional utrophin modulators. Summit also is eligible for up to $330 million in sales milestones per product, plus tiered royalties up to a high-teens percentage per product. Starting in 2018, Summit and Sarepta will split utrophin modulator-related R&D costs 55%-45%, respectively. ...