Ipsen And Day One Earlier Announced Exclusive Ex U.S. Licensing Agreement To Commercialize Tovorafenib For The Most Common Childhood Brain Tumor

Ipsen ((Euronext: IPN, OTC:IPSEY) and Day One Biopharmaceuticals (NASDAQ:DAWN) (Day One), announced today a new global partnership outside the U.S. for tovorafenib, an oral, once-weekly, type II RAF inhibitor for pediatric low grade glioma (pLGG), the most common form of childhood brain cancer, i and any future indications developed by Day One.

Under the terms of the agreement, Ipsen will be responsible for the regulatory and commercial activities for tovorafenib in all territories outside of the U.S. Day One will receive an upfront payment of approximately $111 million, which includes approximately $71 million in cash as well as a $40 million equity investment at a premium and up to approximately $350 million in additional launch and sales milestone payments. Day One will receive tiered double-digit royalties starting at mid-teens percentage on sales.