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Luye In-Licenses China Rights to Cancer Drug from Korea's Hanmi Pharm

publication date: Aug 22, 2014

Luye Pharma of Yantai, China in-licensed a novel oncology drug candidate from Korea's Hanmi Pharmaceutical. Under the terms of the agreement, Luye will have China rights to develop and sell poziotinib, a pan-HER inhibitor. Hanmi will receive an upfront payment plus development and regulatory milestones that total up to $20 million. According to Hanmi, poziotinib has a novel, oral mechanism that blocks EGFR receptors and may be effective against various forms of cancer. More details....

Stock Symbols: (HK: 2186) (KRX: 128940)

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