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Bristol-Myers to Reacquire Rights to Oncology Drug in Asia
Bristol-Myers Squibb Company (BMY - Free Report) will reacquire the rights to ASLAN002 (BMS777607) from privately held biotech company, Aslan Pharmaceuticals, as announced by the latter. Reacquired rights cover the territories of China, Australia, Korea, Taiwan and other Asian countries.
Aslan, an oncology-focused company, had in-licensed marketing rights to ASLAN002 from Bristol-Myers in Nov 2011 in the aforementioned countries. ASLAN002 is a small-molecule dual inhibitor of the cMET receptor tyrosine kinase and RON immune checkpoint. The candidate was being developed for the treatment of solid tumors. Results from a phase I study on the candidate showed that it was safe and well tolerated.
Data from the phase I study showed that the inhibition of RON resulted in the potent inhibition of plasma biomarkers of RON activity.
As a result, Bristol-Myers will pay an upfront payment of $10 million to Aslan. Further, the latter is entitled to receive development and regulatory milestones in excess of $50 million, along with royalty payments on future worldwide sales of ASLAN002. On the other hand, Bristol-Myers will assume the responsibility for all development and commercialization activities and expenses related to the candidate hereafter.
BRISTOL-MYERS Price
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The reacquisition of rights will strengthen Bristol-Myers’ oncology pipeline. We note that the company boasts a robust pipeline across a wide range of core therapeutic areas like oncology, immuno-oncology, immunoscience, cardiovascular, and virology among others. The company’s key oncology products include Opdivo, Sprycel, Yervoy and the recently launched Empliciti. Beyond oncology, the company remains focused on immunology and cardiovascular drugs like Orencia and Eliquis.
Investors interested in the healthcare sector can consider stocks like Pacira Pharmaceuticals, Inc. (PCRX - Free Report) , Corcept Therapeutics Incorporated (CORT - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) .
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