November 14, 2017 / 12:59 PM / a year ago

BRIEF-Bayer, Loxo Oncology form partnership to develop, commercialise cancer drugs​

Nov 14 (Reuters) - Bayer Ag

* Says it and loxo oncology to develop and commercialize two novel oncology therapies selectively targeting genetic drivers of cancer​

* Says alliance to ‍target genetic drivers of cancer larotrectinib (loxo-101) and loxo-195 target tropomyosin receptor kinase (trk) fusion proteins​

* Says ‍first filing for larotrectinib is planned in u.s. In late 2017 or early 2018, with eu filing expected in 2018.​

* Says ‍loxo oncology will receive an upfront payment of usd 400 million and is eligible for usd 450 million in milestone payments​

* Says ‍additional usd 200 million in milestone payments upon loxo-195 regulatory approvals and first commercial sale events in certain major markets.​

* Says ‍will share development costs on a 50/50 basis.​

* Says ‍bayer will lead ex-u.s. Regulatory activities, and worldwide commercial activities.​

* Says ‍in u.s., where bayer and loxo oncology will co-promote products, parties will share commercial costs and profits on a 50/50 basis.​

* Says ‍bayer will pay loxo oncology tiered double-digit percentage royalties on future net sales outside of u.s. And u.s. And ex-u.s. Sales milestones totaling usd 500 million.​ Source text for Eikon: Further company coverage: (Frankfurt newsroom)

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