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Karyopharm and Menarini Group Enter into Exclusive License Agreement to Commercialize NEXPOVIO® (selinexor) in Europe and Other Key Global Territories
Menarini Group Obtains Exclusive Rights to Commercialize NEXPOVIO for the Treatment of Hematologic and Solid Tumor Oncology Indications in Europe (including
About this update from Karyopharm Therapeutics Inc.
[{"type":"text","content":"Menarini Group Obtains Exclusive Rights to Commercialize NEXPOVIO for the Treatment of Hematologic and Solid Tumor Oncology Indications in Europe (including the United Kingdom), Latin America and Other Key Countries\n Karyopharm to Receive $75 Million Upfront, then Eligible to Receive Up to $202.5 Million in Future Milestones, Plus Tiered, Double-digit Royalties on Net Sales\n\n\nNEWTON, Mass. and FLORENCE, Italy, Dec. 21, 2021 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, and the Menarini Group, (\"Menarini\"), a privately-held, leading international pharmaceutical company, today announced their entry into an exclusive licensing agreement whereby Menarini will commercialize NEXPOVIO, Karyopharm's first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound, in Europe and other key global territories.\nUnder the terms of the agreement, Menarini received exclusive rights to commercialize NEXPOVIO for the treatment of oncology indications in the European Union and other European countries (including the United Kingdom), Latin America and other key countries. In exchange, Karyopharm will receive an upfront payment of $75 million (USD) in 2021 and is eligible to receive up to an additional $202.5 million in future milestones, plus tiered double-digit royalties on net sales of NEXPOVIO in the licensed territories. \n\"Menarini is a global pharmaceutical company, with a strong heritage and footprint in Europe and an unwavering commitment to patients, that is dedicated to innovation and bringing new treatment options in oncology. Menarini is an ideal partner to maximize selinexor's potential to have a positive impact on the treatment of cancer in Europe, Latin America and other key countries and this transaction marks an important step forward toward that goal,\" said Richard Paulson, President and Chief Executive Officer of Karyopharm. \"With a shared vision on the potential of selinexor and Menarini's commercialization expertise, this agreement aligns our two companies with the common goal of expanding the number of patients who can access NEXPOVIO in these important global territories.\"\n\"We are delighted to partner with Karyopharm to provide NEXPOVIO in Europe, Latin America and other key countries in the world,\" said Elcin B...