Ziopharm and Solasia Pharma ink $90 million deal for darinaparsin in Asia

US drug developer Ziopharm Oncology (Nasdaq: ZIOP) and Solasia Pharma, a Japanese developer of Western oncology pharmaceuticals in-licensed for commercialization in Asian markets, have entered into a license and collaboration agreement to develop and commercialize the US firm’s darinaparsin (Zinapar or ZIO-101) and related organic arsenic molecules in specified pan-Asian/Pacific territories. The news pushed Ziopharm’s shares up 4.3% to $6.32 in morning trading yesterday.

Ziopharm will receive an up-front $5 million to be used exclusively for further clinical development of darinaparsin outside of the pan-Asian/Pacific territory, and will be entitled to additional payments of up to $32.5 million in development-based milestones and up to $53.5 million in sales-based milestones. The US company will also be eligible for double digit royalty payments from Solasia on net sales of licensed products in the applicable territories, once commercialized, and a percentage of any sublicense revenues generated by the latter.

Under the terms of the accord, Ziopharm granted Solasia an exclusive license to develop and commercialize darinaparsin in both intravenous and oral forms, and related organic arsenic molecules, in all indications for human use in a pan-Asian/Pacific territory comprised of Japan, China, Hong Kong, Macau, Republic of Korea, Taiwan, Singapore, Australia, New Zealand, Malaysia, Indonesia, Philippines and Thailand.