Aptevo Therapeutics (APVO +40.7%) to receive a seven year quarterly royalty from Pfizer related to sales of RUXIENCE (rituximab biosimilar), which was approved by the FDA in July 2019 and launched by Pfizer in the US and Japan in early 2020.
“We are pleased to be receiving this first royalty payment from Pfizer and look forward to future quarterly payments. This funding will help to support the advancement of lead ADAPTIR bispecific candidate, APVO436, which is progressing in a Phase 1/1b study for acute myeloid leukemia” said Marvin White, President and CEO.
The product also received marketing authorization in the European Union in April 2020.
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