Chengdu Baiyu Pharmaceutical Co., Ltd., a Chinese pharmaceutical company, has entered into a licensing agreement with Swiss pharmaceutical giant Novartis (NYSE: NVS), according to the Xinhua News Agency. Under this deal, Novartis will acquire the global exclusive rights to develop and commercialize one of Baiyu’s small molecule anti-tumor assets, the details of which remain undisclosed.
As per the terms of the agreement, Baiyu is set to receive an initial payment of USD 70 million. Additionally, the company is eligible to obtain further payments tied to development, regulatory, and commercial milestones, which could amount to up to USD 1.1 billion. The agreement also includes tiered royalties on future sales of the asset.
Baiyu Pharma’s official website highlights that the company is currently developing six products aimed at treating various types of tumors. Among these, BY1298, an oral small molecule inhibitor of DNA-PK, is the most advanced candidate, currently in Phase II of clinical development for malignant solid tumors in China. Another promising asset, BY1921, is a PARP7-targeted inhibitor that has received clinical approvals in the US and China for the treatment of multiple advanced solid tumors.
This licensing deal signifies a significant step for Baiyu Pharmaceutical as it partners with a global pharmaceutical leader, potentially accelerating the development and reach of its innovative anti-tumor therapies.- Flcube.com
