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August 4, 2014
16:15 EDTINFIInfinity Pharmaceuticals amends PI3K-Delta, Gamma agreement with Millenium
Infinity Pharmaceuticals announced that the company has purchased an option to buy out all future potential royalty payments due to Millennium: The Takeda Oncology Company for sales in oncology of IPI-145, Infinity’s oral inhibitor of phosphoinositide-3-kinase, or PI3K-delta and PI3K-gamma. In exchange for a one-time, upfront payment of $5.0M, Infinity receives an option to terminate its obligation to pay Millennium future royalties related to the sale of IPI-145 in oncology. Infinity may exercise this option by providing written notice and payment to Millennium of a one-time exercise fee of $52.5M on or before March 31, 2015. Exercise of the option does not affect any other obligation under the Development and License Agreement, including Infinity’s obligation to pay royalties on sales of IPI-145 outside of oncology. If Infinity does not exercise the option, its royalty obligations with respect to IPI-145 in oncology will remain in effect. Assuming exercise of the option, Infinity’s obligation to pay Millennium tiered royalties, ranging from 7%-11%, on worldwide net sales of Infinity’s first two distinct PI3K product candidates will exclude worldwide net sales of IPI-145 in oncology. Infinity will remain obligated to pay milestones to Millennium for Infinity’s first two distinct PI3K product candidates that gain approval, including IPI-145. The remaining milestones comprise up to a total of $220M in success-based regulatory milestones, up to a total of $230M in commercial milestones which are due once certain sales thresholds have been met, and up to a total of $5M in development milestones.
News For INFI From The Last 14 Days
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May 26, 2015
08:03 EDTINFIInfinity Pharmaceuticals reports preclinical data for duvelisib
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07:59 EDTINFIInfinity Pharmaceuticals participates in a conference call with JPMorgan
Conference call with CEO Perkins will be held on May 26 at 10 am hosted by JPMorgan.
May 18, 2015
07:22 EDTINFIUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link
May 13, 2015
17:25 EDTINFIInfinity Pharmaceuticals to present new data for duvelisib at ASCO
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