Agios to receive $1.1B in milestone payments after FDA approval of vorasidenib

Agios Pharmaceuticals announced that the Company will receive a total of $1.1B in milestone payments following the FDA approval of vorasidenib for adult and pediatric patients 12 years and older with Grade 2 astrocytoma or oligodendroglioma with a susceptible IDH1 or IDH2 mutation following surgery, including biopsy, sub-total resection or gross total resection. These payments include a $905M payment from Royalty Pharma in connection with the vorasidenib royalty purchase agreement Agios announced in May and a $200M payment from Servier in connection with Agios’ divestiture of its oncology business in 2021. Agios completed the sale of its oncology business to Servier on March 31, 2021. Under the terms of the agreement, Agios received $1.8B in upfront cash, an additional $200 million milestone payment upon FDA approval of vorasidenib, and 15% royalties on potential U.S. net sales of vorasidenib from the first commercial sale through loss of exclusivity. Agios had also retained rights to 5% royalties on U.S. net sales of Servier’s TIBSOVO, which it sold for a one-time payment of $131.8M in 2022.