Ascentage Pharma Obtains an Option Payment of $100M from Takeda
Shots:
- Ascentage Pharma obtained an option payment of $100M on Jul 2, 2024, under an option to license agreement with Takeda for the development of BCR-ABL inhibitor, olverembatinib to treat chronic myeloid leukemia (CML) & other hematological malignancies
- As per the agreement, Ascentage Pharma will further get additional potential milestones, totaling up to ~$1.2B plus double-digit annual sales-based royalties
- The agreement also granted Takeda worldwide rights for the development & commercialization of olverembatinib across all regions excl. mainland China, Hong Kong, Macau, Taiwan and Russia. Before that Ascentage was solely handling its clinical development
Ref: Ascentage | Image: Ascentage
Related News:- Takeda Enters into an Option Agreement with Ascentage Pharma for Olverembatinib to Treat Chronic Myeloid Leukemia
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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.
