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HutchMed Out-licenses Rights for VEGFR to Takeda in $1.1 Billion Deal

publication date: Jan 23, 2023

Shanghai’s HutchMed out-licensed global rights (ex-China) for a colorectal cancer therapy to Japan’s Takeda in a deal worth up to $1.13 billion, including $400 million upfront. Fruquintinib, an oral drug, inhibits VEGFR-1-2 and 3. In China, the drug has been approved for use in CRC since 2018, and HutchMed is currently filing for US and EU approval. HutchMed believes fruquintinib has the potential to be used in subtypes of refractory metastatic colorectal cancer, regardless of biomarker status. In addition to the $1.13 billion, HutchMed will also pay royalties on net sales. More details....

Stock symbols: (NSDQ/AIM: HCM, HK: 13) (TSE: 4502)

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