Amag will receive $1 million upfront and more upon regulatory approval of ferumoxytol.
AMAG Pharmaceuticals will grant 3SBio exclusive rights to develop and commercialize ferumoxytol, an intravenous iron-replacement agent. The compound is in Phase III evaluation to treat iron deficiency anemia in chronic kidney disease (CKD), and the license covers development in China. An option was given for expansion into additional indications.
AMAG will receive an upfront payment of $1 million from 3SBio and is eligible to receive additional milestone payments upon regulatory approval of ferumoxytol in China for CKD and other specified indications. AMAG is also entitled to receive tiered, double-digit royalties, of up to 25%, based on sales of ferumoxytol by 3SBio.
3SBio will be responsible for the clinical development, registration, and commercialization of ferumoxytol in China. AMAG and 3SBio will form a steering committee to oversee and guide the effort, which is set to last 13 years and can be automatically renewed if minimum sales thresholds are achieved. AMAG will retain all manufacturing rights for ferumoxytol and will provide, under a separate agreement, commercial supply to 3SBio at a predetermined supply price.
“This is an exciting first step toward expanding the potential use of ferumoxytol outside the U.S. China represents a large and rapidly growing market opportunity,” states Brian J.G. Pereira, M.D., president and CEO of Amag. “With their leading position in the nephrology therapeutic market, nationwide specialty sales force, and strong marketing capabilities, 3SBio is an ideal partner to develop and commercialize ferumoxytol in China.”