Nov 14 (Reuters) - Bayer Ag
* Says it and loxo oncology to develop and commercialize two novel oncology therapies selectively targeting genetic drivers of cancer
* Says alliance to target genetic drivers of cancer larotrectinib (loxo-101) and loxo-195 target tropomyosin receptor kinase (trk) fusion proteins
* Says first filing for larotrectinib is planned in u.s. In late 2017 or early 2018, with eu filing expected in 2018.
* Says loxo oncology will receive an upfront payment of usd 400 million and is eligible for usd 450 million in milestone payments
* Says additional usd 200 million in milestone payments upon loxo-195 regulatory approvals and first commercial sale events in certain major markets.
* Says will share development costs on a 50/50 basis.
* Says bayer will lead ex-u.s. Regulatory activities, and worldwide commercial activities.
* Says in u.s., where bayer and loxo oncology will co-promote products, parties will share commercial costs and profits on a 50/50 basis.
* Says bayer will pay loxo oncology tiered double-digit percentage royalties on future net sales outside of u.s. And u.s. And ex-u.s. Sales milestones totaling usd 500 million. Source text for Eikon: Further company coverage: (Frankfurt newsroom)