phototechno
Canadian drug developer Apotex on Tuesday announced an agreement with Coherus Biosciences (NASDAQ:CHRS) to buy Canadian rights to the former’s cancer therapy toripalimab, marketed in the U.S. as Loqtorzi for head and neck cancer.
Under the agreement, Apotex will hold exclusive Canadian rights to toripalimab, an anti-PD-1 monoclonal antibody approved in the U.S., in combination with chemotherapy or as a single agent for nasopharyngeal carcinoma.
Apotex will also be responsible for obtaining marketing authorization for toripalimab in Canada, which it intends to accomplish through a regulatory submission targeting recurrent or metastatic nasopharyngeal carcinoma.
Coherus (CHRS) announced the deal in a regulatory filing on Tuesday, noting that it is entitled to $6.25M upfront and up to C$51.5M in potential milestone payments as part of the June 27 agreement.
The company said it would transfer a low, double-digit percentage of proceeds it receives from toripalimab net sales in Canada to Shanghai Junshi Biosciences (OTCPK:SHJBF), from which it obtained U.S. and Canadian rights to the drug in 2021.