Immutep Limited and Dr. Reddy’s Laboratories have entered into a strategic collaboration and exclusive licensing agreement that will allow Dr. Reddy’s to develop, manufacture and commercialise Immutep’s LAG‑3 immunotherapy, eftilagimod alfa (efti), in every country outside North America, Europe, Japan and Greater China. Immutep retains full rights to efti in those key markets while granting Dr. Reddy’s a global manufacturing and commercial platform in emerging economies.
The agreement provides Immutep with an upfront payment of USD 20 million (≈AUD 30.2 million) and the opportunity to earn up to USD 349.5 million (≈AUD 528.4 million) in regulatory development and commercial milestone payments. In addition, the deal includes double‑digit royalties on sales in the licensed territories, creating a substantial recurring revenue stream as efti progresses through its pivotal Phase III TACTI‑004 trial and potential future indications.
Strategically, the partnership leverages Dr. Reddy’s extensive manufacturing footprint and deep market access in emerging regions, where demand for innovative oncology therapies is growing rapidly. For Immutep, the deal preserves control over the most lucrative markets while unlocking the commercial potential of a product that has shown promise in early‑stage studies. The collaboration also aligns with Dr. Reddy’s broader shift from generics to high‑value specialty medicines, adding a novel immunotherapy to its oncology portfolio.
The TACTI‑004 Phase III trial, which enrolls approximately 750–756 patients with advanced or metastatic non‑small‑cell lung cancer, is evaluating efti in combination with pembrolizumab (Keytruda) and chemotherapy as first‑line therapy. The futility analysis is expected in early 2026, and a positive outcome would be a critical milestone for both companies, potentially unlocking the full commercial value of the partnership.
Marc Voigt, CEO of Immutep, said the collaboration “allows us to capture significant value for efti in the licensed markets, while retaining full rights in key markets such as North America, Europe, and Japan, and ensures we remain very well‑positioned for future value creation.” M.V. Ramana, CEO of Branded Markets (India & Emerging Markets) at Dr. Reddy’s, added that the deal “aligns with our continuous efforts to deliver first‑in‑class and innovative therapies for cancer treatment” and that the company looks forward to leveraging its expertise to advance efti in the licensed territories.
The partnership comes at a time when the LAG‑3 immunotherapy market is expected to expand significantly, driven by new candidates and combination strategies. By securing a global manufacturing partner, Immutep positions itself to accelerate access to efti worldwide, while Dr. Reddy’s gains a high‑potential oncology asset that complements its existing portfolio and supports its transition toward specialty medicines.
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