Benzinga | Mar 31, 2021 11:46AM EDT

BridgeBio Locks $2B Infigratinib Global Partnership For Oncology Indications

* At the start of March, BridgeBio Pharma Inc (NASDAQ: BBIO) won approval for its first drug, fosdenopterin, for sporadic cases of molybdenum cofactor deficiency type A.

* In the middle of March, it announced positive proof-of-concept data for encaleret for Autosomal Dominant Hypocalcemia Type 1 (ADH1).

* Today, the company is wrapping up the busy month with global collaboration and licensing agreement with Helsinn Group to develop and commercialize infigratinib.

* The agreement covers oncology and all other indications except for skeletal dysplasias (including achondroplasia).

* Infigratinib is an orally administered ATP-competitive tyrosine kinase inhibitor designed to inhibit FGFR.

* Under the terms of the Agreement, BridgeBio will retain all rights to infigratinib in skeletal dysplasia, including achondroplasia.

* Subject to FDA approval, BridgeBio Pharma's affiliate QED Therapeutics and Helsinn will co-commercialize infigratinib in oncology indications in the U.S. on a 50:50 basis.

* Under the Agreement, BridgeBio will be eligible to receive more than $2 billion in upfront, regulatory and commercial milestones, as well as tiered royalties on adjusted net sales from Helsinn Group.

* Helsinn will have exclusive commercialization rights and lead commercialization for infigratinib in non-skeletal dysplasia indications outside of the U.S., excluding China, Hong Kong, and Macau, covered under LianBio collaboration.

* Price Action: BBIO shares are up 2.54% at $60.62 in market trading hours on the last check Wednesday.