Aptevo Therapeutics Engages Piper Sandler to Sell its RUXIENCE(R) and IXINITY(R) Royalty Streams & Milestones
- RUXIENCE royalty stream: As announced on
June 25, 2020, Aptevo is entitled to receive low single digit royalty payments from Pfizer Inc. pertaining to the net sales of RUXIENCE in the United States, European Union, and Japan. The royalty term runs for seven years, until early 2027, and payments are due quarterly.
- IXINITY royalty stream and milestone payments: As announced on
February 28, 2020, Aptevo is entitled to receive royalty payments from Medexus Pharmaceuticals Inc. pertaining to the net sales of IXINITY in the United Statesand Canada. The royalty term runs for up to fifteen years, until early 2035, and payments are due quarterly. Additionally, milestone payments totaling up to $11 millionmay be earned related to certain regulatory and commercial achievements.
"As we announced in conjunction with our sale of IXINITY earlier this year, Aptevo is now a ‘pure play' biotechnology company focused on applying our proprietary ADAPTIR bispecific platform to develop novel antibody-based immunotherapies for the treatment of cancer and other diseases," said
About RUXIENCE (Rituximab-pvvr)
RUXIENCE is a monoclonal antibody biosimilar to MabThera, also known as RITUXAN, which works by targeting a protein called CD20, which is present on the surface of B lymphocytes, also known as B cells. When it attaches to CD20, rituximab helps destroy these B cells. RUXIENCE is a biosimilar of Biogen's RITUXAN. In the US, RUXIENCE is approved for treatment of Non-Hodgkin's Lymphoma (alone or with other chemotherapy medicines), Chronic Lymphocytic Leukemia (with the chemotherapy medicines fludarabine and cyclophosphamide), and Granulomatosis with Polyangiitis and Microscopic Polyangiitis (with glucocorticoids). The product is also approved for use in
RUXIENCE was not developed using Aptevo's platform technology.
IXINITY is an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B - a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding.
IXINITY is trademark of Medexus Pharmaceuticals Inc.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding potential royalty and milestone payments, Aptevo's ability to successfully sell rights to such payments on terms acceptable to Aptevo, Aptevo's outlook, financial performance or financial condition, estimated cash burn, Aptevo's technology and related pipeline, collaboration and partnership opportunities, milestones, and any other statements containing the words "believes," "expects," "anticipates," "intends," "plans," "forecasts," "estimates," "will" and similar expressions are forward-looking statements. These forward-looking statements are based on Aptevo's current intentions, beliefs and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not undertake to update any forward-looking statement to reflect new information, events or circumstances.
There are a number of important factors that could cause Aptevo's actual results to differ materially from those indicated by such forward-looking statements, including a deterioration in Aptevo's business or prospects; adverse developments in research and development; adverse developments in the
Vice President, Finance