Epizyme, Hutchmed Collaborate To Develop And Commercialize Tazverik In Greater China

(RTTNews) - Epizyme Inc. (EPZM) and Hutchmed (China) Limited said that they have collaborated to research, develop, manufacture and commercialize Tazverik or tazemetostat in Greater China, including mainland China, Hong Kong, Macau and Taiwan.

Tazverik is a methyltransferase inhibitor of EZH2 developed by Epizyme that is approved by the U.S. Food and Drug Administration for the treatment of certain patients with epithelioid sarcoma or "ES" and certain patients with follicular lymphoma or "FL".

As per the terms of the deal, Hutchmed will be responsible for the development and commercialization of Tazverik in greater China. Epizyme will receive a US$25 million upfront payment and is eligible to receive up to an additional US$110 million in development and regulatory milestone payments, across up to eight potential indications, and up to an additional US$175 million in sales milestone payments.

Epizyme is also eligible to receive tiered royalties of mid -teen to low-twenties-percent based on annual net sales of TAZVERIK in Greater China.

In addition, Hutchmed receives a four-year warrant to acquire up to US$65 million of Epizyme shares at US$11.50 per share.

Hutchmed plans to develop and seek approval for TAZVERIK in various hematological and solid tumors, including ES, FL and diffuse large b-cell lymphoma or "DLBCL" in its Territory. Hutchmed will also participate in Epizyme's global registrational study of TAZVERIK in combination with R² in second line FL, the EZH-302 study, and lead the study in Greater China. The parties also intend to conduct additional global studies jointly.

Hutchmed will generally be responsible for funding all clinical trials of TAZVERIK in its Territory including the portion of global trials conducted therein. Upon any approvals Hutchmed will be responsible for commercialization in its designated Territory. Hutchmed will also hold rights to research and manufacture TAZVERIK in the Territory.