Ascentage Pharma Inks Major Licensing Deal

Ascentage Pharma Group International (HK:6855) has released an update.

Ascentage Pharma Group International has entered an exclusive option agreement with Takeda International for the licensing rights of its core drug candidate olverembatinib outside mainland China and selected regions. The drug, aimed at treating drug-resistant chronic myeloid leukemia (CML) and other hematological cancers, could bring Ascentage an initial $100 million payment, with potential for up to $1.2 billion in milestones plus royalties on sales. Olverembatinib has received various designations that could expedite its development, including Priority Review and Breakthrough Therapy in China, and Orphan Drug and Fast Track designations in the US and EU.

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