Infinity Exercises Option to Buy Out All Future Royalty Obligations to Takeda for Duvelisib Sales in Oncology

CAMBRIDGE, Mass. -- Mar. 31, 2015 -- Infinity Pharmaceuticals, Inc. today announced that it has exercised its option to buy out all future royalty obligations due to Takeda Pharmaceutical Company Limited for sales of duvelisib (IPI-145), Infinity's dual inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma, in oncology indications. The option was purchased in July 2014 for $5.0 million from a Takeda affiliate, and the exercise fee was $52.5 million. Exercising the option eliminates the future obligation to pay Takeda tiered royalties ranging from seven percent to 11 percent on worldwide net sales of duvelisib in oncology indications.

"Our decision to exercise this option underscores Infinity's belief in the potential of duvelisib to be a first-in-class dual inhibitor of PI3K-delta,gamma for the treatment of a broad range of hematologic malignancies, or blood cancers, as we continue to advance our registration-focused studies in indolent non-Hodgkin lymphoma and chronic lymphocytic leukemia," stated Adelene Perkins, Infinity's chair, president and chief executive officer.

About Duvelisib
Duvelisib is an investigational inhibitor of Class I phosophoinositide-3-kinase (PI3K)-delta and PI3K-gamma that is being jointly developed by Infinity Pharmaceuticals, Inc. and AbbVie Inc. in oncology. The PI3K pathway is known to play a critical role in regulating the growth and survival of certain types of blood cancers. Duvelisib is designed to block the growth and survival of tumor cells by inhibiting PI3K-delta and PI3K-gamma signaling. The investigational agent is being evaluated in registration-focused studies, including DYNAMOTM, a Phase 2 study in patients with refractory indolent non-Hodgkin lymphoma, DYNAMO+R, a Phase 3 study in patients with previously treated follicular lymphoma, and DUOTM, a Phase 3 study in patients with relapsed/refractory chronic lymphocytic leukemia. Duvelisib is an investigational compound and its safety and efficacy have not been evaluated by the U.S. Food and Drug Administration or any other health authority.

About Infinity Pharmaceuticals, Inc.
Infinity is an innovative biopharmaceutical company dedicated to discovering, developing and delivering best-in-class medicines to people with difficult-to-treat diseases. Infinity combines proven scientific expertise with a passion for developing novel small molecule drugs that target emerging disease pathways. For more information on Infinity, please refer to the company's website at www.infi.com.

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