Puma Biotech In-Licenses Takeda's Cancer Candidate With Primary Focus On Breast & Lung Cancer

Puma Biotechnology Inc PBYI announced an agreement with Takeda Pharmaceutical Co Ltd TAK to license the worldwide research and development and commercial rights to alisertib for cancer indications.
Alisertib has been tested in metastatic cancers, including breast cancer, small cell lung cancer, head and neck cancer, ovarian cancer, peripheral T cell lymphoma, and acute myeloid leukemia.
Under the terms of the agreement, Puma will assume sole responsibility for the global development and commercialization of alisertib.
Takeda will receive an upfront license fee of $7 million and is eligible to receive potential future milestone payments of up to $287.3 million and tiered sales-based royalty payments.
Puma initially intends to focus the development of alisertib on metastatic estrogen receptor-positive (ER-positive) HER2-negative breast cancer, triple-negative breast cancer, and small cell lung cancer.
In previous trials, Alisertib has demonstrated meaningful clinical activity in these populations, most notably in ER-positive breast cancer patients previously treated with a CDK4/6 inhibitor.
Alisertib was also previously tested in small cell lung cancer in a Phase 2 trial as a single agent and a Phase 2 trial in combination with paclitaxel compared to paclitaxel monotherapy.
Price Action: PBYI shares are down 1.20% at $2.46 during the market session on the last check Wednesday.