In 2019, before Trodelvy received FDA approvals, Immunomedics was able to license Trodelvy to Everest Medicines for $65M upfront and $710M in potential milestone payments. This should be a useful comparison when valuing ZEN-3694. If ZEN-3694 was licensed in similiar Asian markets for Prostate Cancer, I would expect 5X (?) what Immunomedics got for Trodelvy due to the 10X market size.
2013 - Immunomedics announces they have received fast track designation from FDA for Sacituzumab govitecan (later to be named Trodelvy) for non-small cell lung cancer, small cell lung cancer and metastatic TNBC.
2016 - Immunomedics announced that Trodelvy had received an FDA breakthrough therapy designation for treatment of people with TNBC.
2019 - Immunomedics licenses Trodelvy’s Asian rights to Everest Medicines. (Asian rights includes China, South Korea, Singapore, Indonesia, Philipines, Vietnam, Thailand, Malayasia and Mongolia.) $65 M upfront payment with up to $710 M in potential milestone payments.
2020 - (April) FDA granted accelerated approval for treatment of TNBC.
2020 – (October) Gilead acquires Immunomedics for $21 Billion.
2021 – (April) FDA grants regular approval for treatment of TNBC.
2021 – (April) FDA grants accelerated approval for treatment of Urothelial cancer aka Urinary tract/Bladder cancer.
2022 – (June) Final data from Phase 3 ASCENT trial published. Halted early after obtaining positive efficacy data.
2022 – (August) Gilead acquires remaining world wide rights of Trodelvy for $445 M from Everest Medicines. $280M upfront and $175M in milestone payments.
2023 (Feb) FDA grants approval for treatment of HR+/HER2- breast cancer.
