Sesen Bio (NASDAQ:SESN) has announced the signing of an exclusive licensing agreement with Hikma Pharmaceuticals. The partnership is for Vicineum registration and commercialization in BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) and other cancer types treatment in the Middle East and North Africa.
Sesen Bio delivers Vicineum to NMIBC patients in the MENA region
Vicineum, a locally administered fusion protein, is Sesen Bio’s lead drug candidate currently in a third phase follow-up registrational study. The company is evaluating Vicineum in high risk BCG-unresponsive NMIBC treatment. In December last year, Sesen Bio initiated a BLA submission for the drug under Rolling Review to the FDA.
Dr. Thomas Cannell, Sesen Bio’s CEO and President, said that the company is committed to improving and saving patients’ lives. As a result, Hikma will be an ideal partner for Vicineum’s delivery to NMIBC patients across the MENA region. He added that the company continues to work towards Vicineum’s regulatory approval in Europe and the US through the execution of partnerships outside the US. The partnerships are part of the company’s vision to deliver treatment to patients across the globe. Cannell said that Hikma has a reputation for commercializing innovative treatments in the MENA region and a track record of serving patients globally. The partnership is a step further for Sesen Bio in realizing a massive opportunity for Vicineum globally.
Hikma receives exclusive license for Vicineum commercialization
Commenting on the partnership, Hikma’s executive VP and MENA president, Mazen Darwazah, said that the company believes in partnerships with pharmaceutical companies. Darwazah said the partnerships are important to the company’s success, and they are delighted to sign one with Sesen Bio considering their NMIBC expertise and robust Vicineum clinical profile.
As per the agreement terms, Hikma will receive an exclusive license from Sesen Bio for Vicineum registration and commercialization in MENA markets. This is an arrangement expected to offer an equal value share to the companies. However, the deal’s financial terms are still confidential and include an upfront payment and sales-related milestones to Sesen Bio.