TG Therapeutics, headquartered in New York City, has announced a deal with Neuraxpharm Group totaling $645 million and granting the German specialty pharmaceutical company exclusive rights to market Briumvi (ublituximab) outside the United States, Canada, Mexico and certain Asian countries.
Briumvi is an anti-CD20 monoclonal antibody approved in the U.S. in December 2022 for the treatment, in adults, of relapsing forms of multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting MS, and active secondary progressive MS. In late May 2023, the treatment was also approved in the European Union to treat relapsing forms of MS in adults with active disease, as defined by clinical or imaging evidence. Approval in the EU extends to all EUcountries as well as Iceland, Norway and Liechtenstein.
Neuraxpharm is a top European pharmaceutical company specializing in treatments for central nervous system (CNS) disorders, including psychiatric and neurological conditions. Under the terms of the collaborative agreement, TG Therapeutics is to receive $140 million in upfront payments, followed by $12.5 million upon launching Briumvi in the first E.U. country.
TG Therapeutics is also eligible to receive additional payments of up to $492.5 million upon the accomplishment of certain launch and commercial milestones. Additionally, the company is set to receive tiered double-digit royalties on net product sales up to 30%. TG Therapeutics, however, retains the option to purchase back all rights under the agreement for a period of two years, in the event of an acquisition of TG Therapeutics.
Neuraxpharm plans to launch Briumvi within the next six months.
Jörg-Thomas Dierks, chief executive officer of Neuraxpharm, said in a press release, “As the leading CNS Company in Europe with direct presence in over 20 countries, we believe Briumvi is an ideal product to bring within our portfolio, and its unique attributes support its potential to become a leading treatment option for patients with relapsing forms of MS.”
He added, “We are committed to the success of Briumvi, due to the positive impact it can make on patients’ lives, and we will be making Briumvi our highest priority, adding 100+ new MS specialists to our already deep CNS commercial team. We look forward to working with TG Therapeutics and launching Briumvi in Europe within the next six months, building further on Neuraxpharm’s position as Europe’s leading CNS specialist.”