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CANbridge of Beijing Pays $134 Million for Rights to AVEO's Cancer Drug

publication date: Mar 21, 2016
CANbridge Life Sciences, a Beijing distributor of western drugs to China, Taiwan and Korea, in-licensed global rights (ex-North America) to a clinical-stage cancer drug from AVEO Oncology of Massachusetts. It is the first time CANbridge owns rights to a drug outside of its North Asia operating base. Initially, CANbridge will develop AV-203, an ErbB3 (HER3) inhibitory antibody, for esophageal squamous cell cancer (ESCC), the most prevalent form of esophageal cancer. CANbridge will pay $1 million upfront and up to $133 million in reimbursement and milestone payments. More details....

Stock Symbol: (NSDQ: AVEO)

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