Shots:
- Astellas has partnered with Vir Biotechnology to advance VIR-5500, a PRO-XTEN dual-masked CD3 T-cell engager targeting PSMA, for the treatment of prostate cancer
- As per the deal, Astellas will fund 60% & Vir 40% of global development costs; Vir will continue the P-I trial until transition, after which Astellas will assume development. Also, Vir will have an option of US co-promotion & equal profit/loss share, while Astellas will hold exclusive ex-US commercialization rights
- Vir will receive $335M upfront & near-term (incl. $240M cash, $75M equity investment at a 50% premium, & a $20M milestone), ~$1.37B in development, regulatory & sales milestones, plus tiered double-digit ex-US royalties, with a portion of proceeds shared with Sanofi under their licensing agreement
Ref: PRnewswire | Image: Astellas & Vir | Press Release
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