Karyopharm, Menarini Ink Over $200M Licensing Pact For Selinexor In Europe, Other Territories

Karyopharm Therapeutics Inc KPTI and the Menarini Group entered an exclusive licensing agreement whereby Menarini will commercialize Karyopharm's Nexpovio (selinexor) in Europe and other key global territories.

• Under the agreement terms, Menarini received exclusive rights to commercialize Nexpovio for oncology indications in the European Union and other European countries, Latin America and other key countries.
• Karyopharm will receive an upfront payment of $75 million and receive up to an additional $202.5 million in future milestones.
• Nexpovio has received conditional marketing authorization from the European Commission combined with dexamethasone for multiple myeloma in patients with at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, two immunomodulatory agents, and an anti-CD38 monoclonal antibody. 
• The European Medicines Agency (EMA) has validated the authorization of Nexpovio in combination with Velcade (bortezomib) and low-dose dexamethasone to treat multiple myeloma following at least one prior therapy. 
• The MAA will be reviewed by the Committee for Medicinal Products for Human Use (CHMP), which is expected to complete during the 1H of 2022.
• Price Action: KPTI shares are up 6.29% at $6.76 during the market session on the last check Tuesday.