Abingworth, an international life sciences investment group, part of global investment firm Carlyle, today announced a strategic development financing agreement with Gilead Sciences.
The financing agreement will provide up to $210 million in funding to support select clinical studies of Trodelvy (sacituzumab govitecan-hziy), within non-small cell lung cancer.
As part of the agreement, Launch Therapeutics, a clinical development company backed by Abingworth and Carlyle, and Gilead have entered into a clinical collaboration agreement that establishes a Joint Steering Committee throughout development.
Gilead retains full rights to Trodelvy and, if development is successful, Abingworth would receive a fixed payment upon regulatory approval of a pre-defined label expansion, as well as royalty payments based on US Trodelvy net sales within the specific tumour type.
