CStone Pharmaceuticals (HKG: 2616), a China-based biopharmaceutical company, has announced an agreement with French pharmaceutical company Servier that returns exclusive development, manufacturing, and commercialization rights to Tibsovo (ivosidenib) in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan, as well as Singapore. Originally developed by US-based Agios Pharmaceuticals, CStone had licensed the rights to commercialize and develop Tibsovo in Greater China in June 2018, with an expansion to Singapore in March 2020. Servier’s acquisition of Agios’s oncology business in December 2020 for USD 2 billion granted them the rights to the drug.
As part of the new agreement with Servier, CStone will receive an upfront payment of USD 44 million and an additional USD 6 million upon the deal’s closure. This settlement effectively cancels CStone’s previous licensing agreement with Agios.- Fineline.com
