Hutchison MediPharma Out-licenses Cancer Drug to Lilly for $86.5 Million
publication date: Oct 10, 2013
Hutchison MediPharma, which is majority owned by Chi-Med, announced it would partner its cancer drug fruquintinib (HMPL-013) with Lilly. Lilly will make up to $86.5 million in upfront and milestone payments to HMP in return for China rights to fruquintinib. The drug, which is in a Phase II clinical trial, is a selective inhibitor of the Vascular Endothelial Growth Factor (VEGF) receptor tyrosine kinases. HMP believes it will be an effective treatment for several solid tumor cancers. More details....
Stock Symbols: (AIM: HCM) (NYSE: LLY)
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