Novartis licenses Antisoma's AS1404 in deal worth up to $890M

Antisoma has signed an exclusive global licensing agreement with Swiss drug major Novartis for its vascular disrupting agent AS1404, in a deal that will see the UK cancer specialist receive near-term payments of $100.0 million. $75.0 million will be paid immediately and a further $25.0 million when AS1404 enters a Phase III trial in lung cancer. Antisoma will be eligible for total upfront, development, regulatory and sales-related milestone payments of up to $890.0 million, contingent upon successful development and marketing of AS1404 in multiple indications, launch of back-up products in multiple indications and achievement of sales milestones, as well as royalties on sales of the drug together with an option to co-commercialize AS1404 in the USA. Novartis will fund and conduct all future development of the agent, and will also pay the outstanding costs of Phase II trials currently being completed.