Ascentage Pharma (HKG: 6855), a biopharmaceutical company based in China, has announced that it has received a USD 100 million option rights payment from its Japanese partner Takeda (TYO: 4502), in accordance with an exclusive option agreement signed earlier last month.
In June 2024, Takeda and Ascentage entered into an exclusive option agreement. Under the agreement, Takeda secured exclusive development and commercialization rights to Ascentage’s BCR-ABL tyrosine kinase inhibitor (TKI) olverembatinib in markets outside of mainland China, Hong Kong, Macau, Taiwan, and Russia. As per the deal, Takeda is to pay a USD 100 million option rights payment to Ascentage for the right to exercise an option that would commit them to a further USD 1.2 billion in option exercise fees and additional milestone payments, as well as double-digit royalties on any future annual sales.- Flcube.com
