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Agios Prescribed drugs (NASDAQ:AGIO) mentioned it can obtain a $1.1B milestone fee following the FDA’s approval of vorasidenib for the remedy of malignant mind tumors.
Biotech says it can obtain $905 million from royalty Pharma for up to date royalties The settlement and $200 million from Servier, which acquired vorasidenib when it acquired Agios’ oncology enterprise in 2021, in accordance with a press release.
Earlier Tuesday, the FDA introduced it has authorized vorasidenib for the remedy of sufferers 12 years of age and older with grade 2 astrocytoma or oligodendroglioma with a predisposing IDH1 or IDH2 mutation who underwent biopsy, subtotal resection, or after surgical procedure corresponding to complete complete resection.
The remedy shall be marketed by Servier underneath the model title Voranigo.
Agios mentioned it expects the funds within the third quarter to convey its money place to $1.7B. The extra money will permit the corporate to organize for the attainable launch of Pyrukynd (also called mitapivat), a remedy for thalassemia in 2025 and a remedy for sickle cell illness in 2026.
