By Cecilia Butini
Bayer AG said Tuesday that it has entered a license agreement with U.S.-based biotechnology company Systems Oncology LLC to develop and commercialize its breast cancer drug ERSO with an upfront payment of $25 million.
Under the agreement, the German chemical and pharmaceutical conglomerate will also grant Systems Oncology commercialization milestone payments for a total of $345 million, it said, plus payments upon achievement of certain development and royalties on future global net sales.
ERSO is a compound currently in pre-clinical development which can be used for the treatment of metastatic Estrogen Receptor-positive breast cancer, Bayer said.
It added that the drug could represent a novel treatment option for patients with this type of cancer, given that there are only limited options available so far for patients with progressed forms of the disease.
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