Takeda Signs Option to Market Ascentage's Blood-Cancer Drug [BNN Bloomberg (Canada)]
AC Immune SA (ACIU)
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Source: BNN Bloomberg
Takeda will have the option to exclusive marketing for Olverembatinib outside of mainland China, Hong Kong, Macau, Taiwan and Russia, the Japanese company said in statement on Friday. The drug, under development, is designed to treat a rare form of bone-marrow cancer called chronic myeloid leukemia and other blood cancers. Ascentage Pharma would get $100 million from Takeda for the licensing deal, and would be eligible for an option exercise fee and additional potential milestones of up to approximately $1.2 billion, together with double-digit royalties on annual sales, the Chinese company said in a release. Ascentage will begin late-stage clinical development of the drug prior to any exercise of the option, the Hong Kong-traded company said. As part of the deal, Takeda will take an unspecified minority stake in Ascentage. Takeda, grappling with the loss of patent protection for its blockbuster ADHD medicine Vyvanse, said last month it will streamline its workforce and lean mor
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- 5/16/24 - Form 144
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