- Atara Biotherapeutics Inc ATRA announced an update to its existing collaboration agreement with Pierre Fabre for the commercialization of tabelecleucel (tab-cel) for Epstein-Barr virus (EBV)-positive cancers.
- Under the amended terms, Atara will receive an additional $30 million milestone payment upon tab-cel European approval and subsequent filing of the Marketing Authorization Application (MAA) transfer to Pierre Fabre in exchange for reduced tab-cel royalties and supply price mark-up for Pierre Fabre.
- Related: Atara Lays Off 20% Of Its Workforce, Issues Update On Cell Therapies.
- Tiered royalties on sales remain at a significant double-digit rate following this amendment.
- "With an anticipated European approval in Q4 2022, tab-cel is positioned to become the first-ever allogeneic off-the-shelf T-cell therapy available for patients with significant need," said Pascal Touchon, President and CEO of Atara. "This update to our agreement with Pierre Fabre reaffirms our strong partnership and shared belief in the transformative potential of tab-cel while enabling Atara to extend our cash runway further."
- In October 2021, Atara entered into an exclusive commercialization agreement with Pierre Fabre for tab-cel in Europe, the Middle East, Africa, and select emerging markets for EBV-positive cancers, receiving an upfront payment of $45 million and up to $320 million in milestone payments.
- Price Action: ATRA shares are up 7.29% at $4.12 during the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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