January 2023 Top Biopharma Deal Upfront
Hutchmed development and commercialization deal with Takeda for fruquintinib
Announced: January 23, 2023
Total Deal Value: $1,130M
Upfront Cash: $400M
Upfront Equity: n/a
Option Payments: n/a
Milestones: $730M dev. and sales milestones
Royalty: Undisclosed royalties
Cost and Profit Split: n/a
Hutchmed’s fruquintinib, an oral vascular endothelial growth factor receptors 1/2/3 tyrosine kinase inhibitor (VEGFR 1/2/3)
Development and Com License
Hutchmed granted Takeda exclusive, worldwide rights excluding China, Hong Kong, and Macau to develop and commercialize Hutchmed’s fruquintinib, an oral vascular endothelial growth factor receptors 1/2/3 tyrosine kinase inhibitor for the treatment of refractory metastatic colorectal cancer (CRC).
Takeda will be solely responsible for the worldwide development and commercialization of fruquintinib, excluding mainland China, Hong Kong, and Macau.
Hutchmed will receive $400M up front and is eligible for up to $730M in development, regulatory, and commercial milestones, plus royalties.
Congrats to Hutchmed and Takeda for landing DealForma’s Jan. 2023 Top Biopharma Deal. Last month’s Deal of the Month was Akeso – Summit for cancer drug ivonescimab. Read about it here.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.
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