이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Yuhan terminates licensing deal with Chinese partner for its lung cancer drug
- Collected
- 2016.12.28
- Distributed
- 2016.12.29
- Source
- Go Direct
The termination was due to non-fulfillment of Luoxin’s obligations, the Korean drugmaker said, adding the Chinese partner was not sincere in pursuing final agreement terms and only demanding technical information of the drug one-sidedly.
Yuhan would have received a milestone payment and royalties on sales of $120 million from Luoxin in addition to an upfront payment of about $6 million.
Yuhan said it will consider legal action for compensation on the grounds of non-performance of obligations and request Luoxin to return all technical data related to YH25448.
Yuhan also said the termination has nothing to do with the drug’s integrity or market conditions and will explore other candidates for partnership upon robust data from a Phase I clinical study due next year.
The investigational drug was approved for a Phase I clinical trial in Korea. The third-generation EGFR tyrosine kinase inhibitor (TKI) is being evaluated on its efficacy to treat patients with non-small cell lung cancer (NSCLC), who are resistant to existing targeted cancer drugs.
Recent non-clinical studies showed that the drug is very effective against cancer cells in the brain, suggesting it could treat patients whose lung cancer has spread to the brain, the company said.
Yuhan shares fell 2.69 percent to 199,000 won as of 2:10 p.m. in Seoul trading on Wednesday.
By Shin Chan-ok
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]