- For Print
- June 30, 2023
Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) announced today that it has entered into an agreement to transfer all future economic rights for elacestrant (generic name), approved for the treatment for breast cancer in the United States, to DRI Healthcare Trust (Headquarters: Ontario, Canada, “DRI Healthcare”).
Elacestrant is a selective estrogen receptor degrader discovered by Eisai. In 2006, Eisai granted Radius Health, Inc (Headquarters: Massachusetts, United States) an exclusive worldwide license (with Japan included in 2015) concerning the research, development, manufacture and marketing of the given compound and, in return, had the rights to receive certain financial payments, including milestones, and royalties on net sales of elacestrant, etc.
In this agreement with DRI Healthcare, Eisai transfers to DRI Healthcare all of its future economic rights. Eisai will receive an upfront payment of 85 million U.S. dollars for the transfer. As a result of this transaction, Eisai anticipates no changes to its consolidated financial forecast for the period ended March 31, 2024.
Driven by our hhc concept, Eisai strives to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas: Neurology, Oncology and Global Health. As an hhceco company, Eisai aims to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities by creating solutions through building an ecosystem in collaboration with other industries.
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Eisai Co., Ltd.
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[Notes to editors]
1. About Elacestrant
Elacestrant is a selective estrogen receptor degrader discovered by Eisai. Eisai has granted Radius Health, Inc. an exclusive worldwide license for elacestrant. In January 2023, Food and Drug Administration (FDA) approved elacestrant for ER-positive, HER2-negative, ESR1-mutated advanced or metastatic breast cancer. The marketing authorization application (MAA) for the same indication is under review by the European Medicines Agency (EMA).
2. About DRI Healthcare Trust
DRI Healthcare Trust is managed by DRI Capital Inc. ("DRI Capital"), the pioneer in global pharmaceutical royalty monetization with a more than 30-year history of accelerating innovation by providing capital to inventors, academic institutions and biopharma companies. Since its founding in 1989, DRI Capital has deployed more than US$2.5 billion, acquiring more than 70 royalties on 40-plus drugs, including Eylea, Spinraza, Zytiga, Remicade, Keytruda and Stelara. DRI Healthcare Trust’s units are listed and traded on the Toronto Stock Exchange in Canadian dollars under the symbol "DHT.UN" and in US dollars under the symbol "DHT.U". To learn more, visit drihealthcare.com or follow us on LinkedIn.