Sesen Bio (NASDAQ: SESN) has entered a licensing agreement with Eczacibasi Pharmaceuticals Marketing for commercialization and registration of Vicineum in BCG unresponsive non-muscle invasive bladder cancer (NMIBC) treatment. Eczacibasi, which is part of the Eczacibasi, is among the pioneering pharma companies in Turkey focusing on branded innovative products.
EIP to market Vicineum in Turkey
The US Food and Drug Administration (FDA) is now reviewing Viceneum, the company’s primary program, for BCG-unresponsive NMIBC treatment in the US, with a target Prescription Drug User Fee Act (PDUFA) date set for August 18, 2021.
Sesen CEO Thomas Cannell said, “EIP is a partner of choice in Turkey and has a proven track record and experience in marketing innovative, life-saving medicines with an expertise in oncology and urology. This partnership with EIP marks a further step in realizing our mission to save and improve the lives of patients, and in achieving the significant global opportunity projected for Vicineum.”
Muge Satir, EIP General Manager, “International partnerships are a central component of EIP’s growth strategy and Sesen Bio is an ideal partner given their mission and expertise in NMIBC. Vicineum is a potential first-in-class treatment with a differentiated clinical profile which we believe can make a significant impact on patients with NMIBC. We look forward to working with Sesen Bio closely to expeditiously bring Vicineum to patients in Turkey.”
Sesen Bio to receive $1.5 million upfront payment
Sesen awarded EIP an exclusive registration and marketing license for Vicineum in Turkey for BCG-unresponsive NMIBC treatment under licensing agreement terms. As a result, Sesen Bio would then receive a $1.5 million upfront payment and will be eligible for regulatory and marketing milestone payments. Also, SesenBio will be entitled to a 30% royalty on net sales in Turkey. Vicineum for the treatment of NMIBC remains fully developed and commercialized by Sesen throughout the US and the rest of the world except Turkey, China, and MENA.
