Takeda Enters into an Option Agreement with Ascentage Pharma for Olverembatinib to Treat Chronic Myeloid Leukemia
Shots:
- Takeda has entered into an option to license agreement with Ascentage to obtain exclusive rights of olverembatinib, a 3rd gen. BCR-ABL tyrosine kinase inhibitor, being developed for CML & other hematological cancers
- Upon exercising the option, Takeda will gain worldwide rights for the development & commercialization of olverembatinib across all regions excl. mainland China, Hong Kong, Macau, Taiwan and Russia. Before that Ascentage will solely handle its clinical development
- Ascentage will get a $100M option payment on signing of the agreement along with an option exercise fee, additional milestones & royalties (subject to regulatory approvals) as well as a minor equity investment upon exercising the option
Ref: Takeda | Image: Takeda
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
