PharmaMar and Chugai Pharmaceutical Enter into a License and Commercialization Agreement for PM1183 in Japan

MADRID, Spain/TOKYO, Japan I December 22, 2016 I PharmaMar (MSE: PHM) has announced today the signing of an exclusive license, development and commercialization agreement with Chugai Pharmaceutical Co. Ltd. (Tokyo: 4519) for its third marine-derived anticancer drug PM1183 (lurbinectedin) in Japan. Under the terms of this agreement, PharmaMar will receive an upfront payment of €30 million, along with double-digit tiered royalties, and will also be eligible for receiving payments in line with the progress of the development and sales milestones; potentially worth over €100 million.