Business
TG Therapeutics and Neuraxpharm Announce Ex-US Commercialization Agreement for BRIUMVI® (ublituximab-xiiy)
Total deal size of approximately ~$650M, including over $150M in upfront and near-term milestones Neuraxpharm’s dedicated neurology focus and established
About this update from Tg Therapeutics, Inc.
[{"type":"text","content":"Total deal size of approximately ~$650M, including over $150M in upfront and near-term milestones Neuraxpharm’s dedicated neurology focus and established European presence makes them an attractive partner for BRIUMVI’s European launch, targeted within the next six months TG retains strategic flexibility with an option to buy back all rights under this agreement if TG is acquired Conference call to be held today, August 1, 2023 at 8:30 AM ETNEW YORK and DÜSSELDORF, Germany, Aug. 01, 2023 (GLOBE NEWSWIRE) -- TG Therapeutics, Inc. (NASDAQ: TGTX) (TG) and Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the treatment of central nervous system (CNS) disorders, today announced an agreement for the ex-US commercialization of BRIUMVI® (ublituximab). BRIUMVI is the first and only anti-CD20 monoclonal antibody approved in the United States (US) and European Union (EU) for adult patients with relapsing forms of multiple sclerosis (RMS) that can be administered in a one-hour infusion, twice a year, following the starting dose. Neuraxpharm is backed by funds advised by the global private equity firm, Permira. Michael S. Weiss, TG’s Chairman and Chief Executive Officer, stated, “We are very excited to be partnering with Neuraxpharm to launch BRIUMVI in Europe. Their neurology-focused approach, broad European platform and entrepreneurial organization really resonated with us as an attractive partner for BRIUMVI.” Mr. Weiss continued, \"From a deal perspective, the terms provided us many important benefits, including an upfront payment further solidifying our balance sheet, attractive economic terms providing meaningful participation in the ex-US success of BRIUMVI, an experienced neurology team ready to rapidly launch BRIUMVI, and the strategic flexibility to buy back the commercial rights over the next two years in the event of an acquisition of TG.” Dr. Jörg-Thomas Dierks, Chief Executive Officer of Neuraxpharm, stated, “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. We are committed to the success of BRIUMVI, due to the positive impact it can make on patients’ lives, an...