TOKYO (dpa-AFX) - Takeda Pharmaceutical Co. Ltd. (TAK) announced on Friday that they have signed an option agreement with Ascentage Pharma for the exclusive license agreement of Olverembatinib.
This agreement will allow Takeda to develop and commercialize Olverembatinib in all territories except mainland China, Hong Kong, Macau, Taiwan, and Russia.
Olverembatinib is a third-generation BCR-ABL tyrosine kinase inhibitor that can be taken orally. It is currently approved and available in the Chinese market for treating adult patients with TKI-resistant chronic-phase chronic myeloid leukemia or accelerated-phase CML with the T315I mutation.
Under the terms of the agreement, Ascentage will be solely responsible for all clinical development activities related to Olverembatinib until Takeda decides to exercise the option to license it.
If Takeda decides to license Olverembatinib, Ascentage will get a $100 million option payment upon signing. It is also eligible for further milestone and royalty payments, pending standard regulatory approvals, and will receive a minority equity stake from Takeda.
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