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ADC Therapeutics, Mitsubishi Tanabe Ink Zynlonta Licensing Pact In Japan

ADC Therapeutics SA (NYSE: ADCT) has entered an exclusive license agreement with Mitsubishi Tanabe Pharma Corporation to develop and commercialize Zynlonta (loncastuximab tesirine-lpyl) for all hematologic and solid tumor indications in Japan.

  • Under the agreement terms, ADC Therapeutics will receive an upfront payment of $30 million and up to an additional $205 million in milestones payments.

  • ADC Therapeutics will also receive sales-based royalties ranging in percentage from the high teens to the low twenties.

  • Mitsubishi Tanabe will conduct clinical studies of Zynlonta in Japan and will have the right to participate in any global clinical studies of the product by bearing a portion of the costs of the study.

  • In April 2021, the FDA granted accelerated approval to Zynlonta as the first and only CD19-targeted ADC as a single-agent treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy.

  • European application has been validated by the European Medicines Agency (EMA) and is under review by the EMA's Committee for Medicinal Products for Human Use (CHMP).

  • Price Action: ADCT shares closed lower by 9.32% at $17.22 on Friday.

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