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Takeda Signs $100 Million Option for Ascentage’s Lead TKI Therapy

publication date: Jun 14, 2024

Takeda entered a $100 million option agreement to acquire global rights (ex-China) to Suzhou Ascentage’s lead drug, olverembatinib, a third-gen BCR-ABL tyrosine kinase inhibitor (TKI). Ascentage will be responsible for all clinical development of olverembatinib until the option is exercised, and Takeda will make an equity investment of unspecified size in Ascentage. Takeda is also responsible for an option exercise fee and additional milestone and royalty payments. Further details of the agreement were not disclosed. Olverembatinib is already launched in China for three chronic myeloid leukemia (CML) indications. More details....

Stock Symbols: (TSE: 4502; NYSE: TAK) (HK: 6855)

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