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news.US-based biopharmaceutical firm Medivation has agreed to acquire all worldwide rights of BioMarin Pharmaceutical's talazoparib (formerly referred to as BMN 673), a highly-potent, orally-available poly ADP ribose polymerase (PARP) inhibitor.
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Talazoparib is currently in a Phase III trial designed to treat patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer.
The two-arm trial randomizes patients with germline BRCA mutated locally advanced and/or metastatic breast cancer 2:1 to talazoparib or the protocol-specified physicians’ choice of chemotherapy.
The company noted that patients may have received no more than two prior chemotherapy regimens for metastatic disease.
As part of the deal, Medivation will carry out all research, development, regulatory and commercialization activities for all indications globally.
Medivation president and chief executive officer of David Hung said: "Acquiring all worldwide rights to talazoparib provides Medivation with a transformational opportunity to diversify and expand our proprietary portfolio and global oncology franchise.
"PARP inhibitors are an exciting class of oncology therapeutics that have been associated with promising activity across multiple tumor types, including breast and prostate cancer.
"These latter two disease indications are areas in which Medivation has proven expertise and development capabilities and in the case of prostate cancer, an established and successful commercial presence.
"Talazoparib’s potential to act alone or augment the effects of a wide array of tumor DNA-damaging oncology therapies and its high potency and level of activity in various cancers make talazoparib a great strategic fit for Medivation’s oncology portfolio, building on existing strengths as well as potentially allowing Medivation to expand into new oncology indications."
The deal will see Medivation pay BioMarin $410m upfront, up to an additional $160m upon the achievement of regulatory and sales-based milestones and mid-single digit royalties for talazoparib.
At the closing of the transaction this year, Medivation will assume all financial obligations associated with the development and commercialization of talazoparib.