Innate Pharma returns US, EU Lumoxiti rights to AstraZeneca

 

• Innate Pharma (NASDAQ:IPHA) down 17% in premarket, after announcing that it will return the U.S. and EU commercialization rights of Lumoxiti (moxetumomab pasudotox-tdfk) to AstraZeneca (NASDAQ:AZN). Innate licensed the rights to Lumoxiti for certain patients with relapsed or refractory hairy cell leukemia in October 2018.
• The companies will develop a transition plan, including costs and transfer of the US marketing authorization and distribution of Lumoxiti back to AstraZeneca in 2021. AstraZeneca will remain the marketing authorization applicant for the EU filing.
• As part of this decision, Innate will immediately begin to reduce its US commercial operations.
• Lumoxiti is a CD22-directed immunotoxin for adult patients with relapsed or refractory (r/r) hairy cell leukemia (HCL) who have received at least two prior systemic therapies, including treatment with a purine nucleoside analog.
• The med received FDA approval in September 2018 and has been granted Orphan Drug Designation by the FDA and the EMA for the treatment of r/r HCL.
• https://seekingalpha.com/news/3643653-innate-pharma-gives-back-us-eu-lumoxiti-rights-to-azn