Biotechnology company BioMarin Pharmaceutical Inc (Nasdaq:BMRN) said on Friday that it has earned a USD15m in milestone payment from Pfizer Inc following European Commission (EC) approval of TALZENNA (talazoparib) for the treatment of adult patients with metastatic breast cancer (MBC).

The European Commission EC has approved TALZENNA (talazoparib) for the treatment of adult patients with germline breast cancer susceptibility gene (gBRCA) 1/2-mutations, who have human epidermal growth factor receptor 2-negative (HER2-) locally advanced (LA) or metastatic breast cancer (MBC).

Earlier in 2015, Medivation Inc and BioMarin Pharmaceutical Inc launched an asset purchase agreement, under which Medivation acquired all worldwide rights to talazoparib, a once-daily, oral poly (ADP-ribose) polymerase (PARP) inhibitor. Medivation was later acquired by Pfizer in September 2016.

In conjunction with the agreement, Medivation paid BioMarin USD410m upfront and BioMarin is entitled to receive up to an additional USD160m (in aggregate) upon the achievement of regulatory and sales-based milestones, of which USD50m has been earned to date, as well as mid-single digit royalties for talazoparib.