#China #Shanghai #Pimicotinib #Merck #Abbisko Therapeutics

Abbisko Therapeutics and Merck Team Up for Pimicotinib Global Rights

In a significant advancement for cancer treatment, Abbisko Therapeutics Co., Ltd. has announced that Merck has formally exercised its option for the global commercialization rights of Pimicotinib (ABSK021). This decision comes as part of a licensing agreement established between the two companies in December 2023. The option exercise fee related to this agreement amounts to USD 85 million, further cementing the collaboration between these two prominent entities in the biopharmaceutical sector.

Details of the Agreement

The licensing agreement initially allowed Merck exclusive rights to commercialize Pimicotinib for all indications specifically within mainland China, as well as in Hong Kong, Macau, and Taiwan. However, the exercise of this option has now granted Merck the global rights necessary to market Pimicotinib, highlighting the confidence both parties have in the drug's potential. Prior to this, Abbisko Therapeutics received a substantial upfront payment of USD 70 million in February 2024, and now stands to benefit from the additional option exercise fee of USD 85 million.

A Promising Oncology Therapy

Pimicotinib is an innovative CSF-1R (Colony Stimulating Factor 1 Receptor) inhibitor that Abbisko developed independently. Its efficacy was significantly demonstrated in the Global Phase III MANEUVER study targeting Tenosynovial Giant Cell Tumor (TGCT). In the November 2024 study results, Pimicotinib achieved an impressive objective response rate of 54.0% at Week 25, a stark contrast to the 3.2% seen in the placebo group (p<0.0001). Moreover, the treatment was well tolerated, with minimal discontinuation rates due to adverse effects, underscoring its potential as a transformative therapy in oncology.

Future Prospects

Yao-Chang Xu, the Chairman and CEO of Abbisko Therapeutics, expressed his enthusiasm over this achievement, stating, “Pimicotinib represents a key advancement within the emerging class of CSF-1R inhibitors, demonstrating meaningful clinical efficacy and safety. We are eager to deepen our collaboration with Merck to expedite the registration process and provide patients with this innovative treatment.”

Andrew Paterson, Merck's Chief Marketing Officer for its Healthcare sector, shared similar sentiments, noting that this milestone marks a critical step in their partnership, aiming to offer effective treatment options for TGCT patients around the globe. This collaboration serves as a testament to their commitment to tackling challenges in rare oncological conditions, where treatment options are often scarce.

The total potential financial gain for Abbisko Therapeutics from this collaboration could reach up to USD 605.5 million, including milestone payments and royalties tied to annual net sales of Pimicotinib. This financial framework not only secures Abbisko's future but also fuels further research and development in creating potent therapies in the oncology market.

Conclusion

As Abbisko Therapeutics and Merck take strides in bringing Pimicotinib to patients worldwide, the anticipation surrounding this treatment continues to grow. With promising data and substantial financial backing, this partnership could very well lead to breakthroughs for patients who currently face limited treatment avenues. The global healthcare community watches closely as these companies pave the way for innovative cancer therapies.