Takeda Pharmaceuticals, a leading biopharmaceutical company based in Japan (TYO: 4502), has entered into an option agreement with China-based Ascentage Pharma (HKG: 6855), securing exclusive development and commercialization rights for olverembatinib, a third-generation BCR-ABL tyrosine kinase inhibitor (TKI), in markets outside of China, Hong Kong, Macau, Taiwan, and Russia. The financial details of the agreement were not disclosed.
Olverembatinib, which has been approved in China for the treatment of TKI-resistant chronic-phase chronic myeloid leukemia (CP-CML) or accelerated-phase CML (AP-CML) with the T315I mutation, is currently in development for additional hematological cancers. The drug has also received orphan drug designations in Europe and the US, reflecting its potential as a best-in-class treatment for patients with unmet medical needs.
Ascentage Pharma will continue to advance late-stage clinical development of olverembatinib prior to the potential exercise of the option to license. This strategic partnership aims to leverage Takeda’s global expertise to broaden the impact of olverembatinib on patients worldwide.- Flcube.com
