Y-mabs Therapeutics, Inc. (NASDAQ: YMAB) has announced an exclusive license and distribution agreement with Nobelpharma Co., Ltd. for the development and commercialization of Danyelza® (naxitamab-gqgk) in Japan. Under the terms of the agreement, Y-mabs will receive an upfront payment of $2.0 million from Nobelpharma and is entitled to receive up to $31.0 million in product and commercial milestone payments in addition to royalties in the low double digits on commercial sales of Danyelza, if successfully approved and commercialized in Japan.
Danyelza is indicated for the treatment of pediatric patients 1 year of age and older and adult patients with relapsed or refractory high-risk neuroblastoma in the bone or bone marrow who have demonstrated a partial response, minor response, or stable disease to prior therapy. The drug includes a boxed warning for serious infusion-related reactions and neurotoxicity.
This agreement is considered an important step in Y-mabs' continued global expansion efforts, with the company's President and CEO, Michael Rossi, expressing optimism about the potential impact of Danyelza on patients in Japan. Thomas Gad, founder and chief business officer of Y-mabs, also emphasized the significance of this partnership and the commitment to providing access to Danyelza to improve the lives of children and families facing advanced cancers.
The exclusive license and distribution agreement with Nobelpharma represents a significant opportunity for Y-mabs to expand its presence in the Japanese market and potentially provide a new therapeutic option for physicians treating relapsed/refractory high-risk neuroblastoma in the region. Following these announcements, the company's shares moved 1.6%, and are now trading at a price of $14.97. If you want to know more, read the company's complete 8-K report here.
